What happens to your RRSP on death?
Throughout the course of lives, most of us make sizeable contributions to our RRSPs. We do this in order to minimize our overall taxes payable and to plan ahead for our retirement. With both tax minimization and future planning on our minds during this year’s RRSP season, it might be worth considering, not only this year’s contribution, but also what will happen to your RRSP upon your death. In many cases, the failure to properly plan ahead for the disposition of one’s RRSP can have significant tax consequences for your estate. Read More at Toronto Estate Law Blog