Your RRSP could hand CRA 50% when you die. 1. CRA treats your entire RRSP as income the day you die — a $400,000 balance could trigger roughly $180,000 in taxes on your final return before your family sees a single dollar. → $180,000 2. Naming your spouse or common-law partner as beneficiary triggers a full tax-deferred rollover — zero tax at transfer, and the funds keep growing sheltered inside their own RRSP. 3. Skip the beneficiary designation entirely and your RRSP flows through your estate — that means probate fees on top of the full income tax hit, costing heirs even more. 4. Financially dependent children or grandchildren also qualify as beneficiaries with special tax treatment — reviewing your designations now could save your heirs tens of thousands of dollars. Full guide 🌐 getwealthy.blog #CanadaFinance #PersonalFinance #CanadianMoney #MoneyTips #Canada
Certified Financial Planner (CFP) and Chartered Investment Manager (CIM) with over 17 years of experience in Canadian personal finance. Spent 10+ years at one of Canada's Big Five banks, the last 7 focused exclusively on high-net-worth clients. Every guide is written with the same depth I bring to real client work — Canada-specific, CRA-verified, and always free.