succession

Beneficiary Designations: Bypassing Probate on RRSPs, RRIFs & TFSAs

Naming a beneficiary on your RRSP, RRIF, TFSA, and life insurance policies causes those assets to pass directly to your beneficiary outside of your estate — avoiding probate fees (up to 1.5% in Ontario), delays of 6–18 months, and public disclosure of your estate.