Is it better to gift property to children now or leave it in a will?

There is no universal answer. Gifting during your lifetime transfers ownership immediately but triggers purchase tax for the recipient and potentially betterment tax for you. Inheriting under a will does not trigger purchase tax, but the estate distribution process takes time and the heir inherits at the current market value (resetting the betterment tax base). The right choice depends on the property's appreciation, both parties' tax profiles, and the family's circumstances. An attorney can model both scenarios before you decide.