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

November 2022 Portfolio Management Team Update

November 2022 Portfolio Management Team Update By Elvis Picardo, CFA®, CIM, Portfolio Manager, iA Private Wealth November 29, 2022 Market Review Global equities staged an unexpected rally in October for the second time in four months, as investors shrugged off concerns about inflation and rising interest rates, as well as a near-meltdown in UK government […]

Read more

October 2022 Portfolio Management Team Update

October 2022 Portfolio Management Team Update By Elvis Picardo, CFA®, CIM, Portfolio Manager, iA Private Wealth October 25, 2022 Market Review and Economic Environment Global equities plunged in September on escalating concerns about a recession arising from central banks’ attempts to quell inflation through rapid interest rate hikes. The Federal Reserve raised its benchmark interest […]

Read more

September 2022 Portfolio Management Team Update

September 2022 Portfolio Management Team Update By Elvis Picardo, CFA®, CIM, Portfolio Manager, iA Private Wealth September 15, 2022 Market Review and Economic Environment The summer rally that had enabled U.S. indices to claw back half their 2022 losses by mid-August came to a grinding halt in the second half of the month (Figure 1). […]

Read more