Skip to content
News & commentary

RRSPs and Your Estate

Home News & Commentary RRSPs and Your Estate
Jon Glougie

Jon Glougie

Most people are aware that they are able to roll their RRSP/RIF to a spouse, common-law partner or financially dependent child or grandchild with a mental or physical disability. What some people don’t always understand, is what happens to the RRSP/RIF if it is being left to anybody other than a spouse, common-law partner or financially dependent child. If you are planning on leaving your RRSP/RIF to anybody other than the aforementioned beneficiary(ies), it is important to understand the impact on your estate.

Your RRSP/RIF will be transferred directly (and in its’ entirety) to your listed beneficiary(ies), however, your estate will still be left with a tax bill. You will need to include the value of your RRSP/RIF in your final income tax return as income! This means that, depending on the size of your RRSP/RIF, your estate may have a sizable tax bill to settle before the remainder of your estate can be distributed to the remaining beneficiaries. If your goal is to evenly split your assets amongst multiple beneficiaries, it is important to understand that an RRSP/RIF and non-registered assets left in the estate will be taxed differently.

If you would like to review your estate plan to ensure that your assets will be distributed as you intend them to be, let us know and we will be more than happy to help!


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