Roberts Nash Advisory Group

Who Is Your Beneficiary?

In case you missed it the Globe and Mail, Rob Carrick, had a great article “A Guide to Naming a Beneficiary of your TFSA, RRSP and RRIF published February 10, 2017.  The article is a great summary about the ways in which you could transfer wealth using these products.

Each year we review our beneficiaries with our clients to ensure not only the correct intent for future ownership of the asset, but the tax strategy and savings created by correctly naming beneficiaries.

One item missed in this article is that documentation for registered accounts (RRSP, RRIF, TFSA, LIRA, etc.) are legal documents. Depending on when the document is dated it can supersede your will.  Be careful to ensure your intent is aligned correctly with your actions in naming a beneficiary.

http://www.theglobeandmail.com/globe-investor/retirement/retire-planning/naming-a-beneficiary-to-your-investment-accounts-requires-thought/article33987944/

** I have prepared this commentary to give you my thoughts on various investment alternatives and considerations which may be relevant to your portfolio. This commentary reflects my opinions alone, and may not reflect the views of National Bank Financial Group. In expressing these opinions, I bring my best judgment and professional experience from the perspective of someone who surveys a broad range of investments. Therefore, this report should be viewed as a reflection of my informed opinions rather than analyses produced by the Research Department of National Bank Financial **

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