Deciding who and how you name a beneficiary could have tax and estate implications. Beneficiaries can be designated when opening investment accounts such as RRSPs, RRIFs, TFSAs, RESPs, etc…or the accounts and allocations can be listed in a will. It is important to know what the financial implications will be involved to minimize the taxes payable in the designation of beneficiary and ensure the final wishes are followed after the account holder’s... [read more]