From Yahoo Finance: 2025-04-12 08:30:00

Adding a joint owner to a savings account won’t eliminate taxes, but it can help avoid probate. Gift and estate taxes apply to unilateral transfers. The annual gift tax exemption is $19,000 per-donor, per-recipient in 2025. Lifetime exemption is $13.99 million. Consult a financial advisor for complex scenarios involving asset transfers and taxes.

Read more: Will Adding Me to My Mom’s $40k Account Really Avoid Taxes After She Dies?