Skip to content
News & commentary

Did you include your TFSA in your estate plan?

Home News & Commentary Did you include your TFSA in your estate plan?
Jon Glougie

Jon Glougie

Did you include your TFSA in your estate plan?

By now, you are probably aware of the benefits that a Tax-Free Savings Account can provide you with from an investing perspective. But did you know that your TFSA can also be a big help to your estate plan too? If you have a spouse, you should ensure that you have named each as Successor Holder’s to each other’s TFSAs (not Beneficiary). The Successor Holder designation allows a surviving spouse to roll a deceased spouse’s TFSA into their own, effectively giving the surviving spouse double the TFSA limit room. If you are a single individual (or a surviving spouse), you can name a Beneficiary to your TFSA. This way, your entire TFSA will be passed on to your chosen beneficiary outside of your will. This means that there will be no probate or estate tax payable on the money/investments inside your TFSA. This is just another reason why you should make sure that you are using a TFSA and that you have your TFSA set up with proper designations.


This information has been prepared by Luft Financial. Opinions expressed in this article are those of Luft Financial only and do not necessarily reflect those of iA Private Wealth. Furthermore, this does not constitute an offer or solicitation to buy or sell any of the securities mentioned. The information contained herein may not apply to all types of investors.

How do we elevate your wealth?

It begins with understanding your needs and creating a comprehensive and tailored financial plan to help reduce tax, manage risk and grow your portfolio over the long term. Learn more about how we help you achieve financial security and peace of mind.

News & commentary

May 2024 Portfolio Management Team Update

May 2024 Portfolio Management Team Update By Elvis Picardo, CFA®, CIM, Senior Portfolio Manager, iA Private Wealth May 17, 2024 Market Review Global equities fell in April after five straight months of gains, as concerns about sticky inflation and receding optimism about interest rate cuts by the Federal Reserve sapped investor sentiment. However, markets have […]

Read more

April 2024 Portfolio Management Team Update

April 2024 Portfolio Management Team Update By Elvis Picardo, CFA®, CIM, Senior Portfolio Manager, iA Private Wealth April 10, 2024 Market Review Global equities advanced for the fifth straight month in March, capping a stellar quarter for stocks and enabling the MSCI All-Country World Index to post a record high on the last trading day […]

Read more

March 2024 Portfolio Management Team Update

March 2024 Portfolio Management Team Update By Elvis Picardo, CFA®, CIM, Senior Portfolio Manager, iA Private Wealth March 20, 2024 Market Review Global equities advanced for the fourth successive month in February, as growing confidence in a “soft landing” for most major economies took the MSCI All-Country World Index to a new high. The TSX […]

Read more