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  • Tax-free Savings Account Multiple Beneficiary ... - Rbc Direct Investing

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Ent forming part of the Tax-Free Savings Account. Note to Holders Domiciled in Quebec: Successor Holder Designations and Beneficiary Designations are not accepted in Quebec. Account Holder s Name TFSA Account Number Part 1 Spouse Successor Holder Designation Where permitted by law, I hereby designate my spouse or common-law partner ( Spouse ), named below, to become the Holder and acquire all of my rights as.

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Beneficiaries (other than a survivor) can contribute any of the amounts they receive to their own TFSA as long as they have unused TFSA contribution room available.

To add or change the beneficiary on your TFSA, complete the TFSA Designation of Successor Holder and/or Beneficiary form. To add or change the beneficiary on your RSP or RIF, complete the Beneficiary form.

Write only one beneficiary on each line. Make sure that you write the full names of all beneficiaries. For example, if you name you children as beneficiaries, DO NOT merely write “children” on one of the lines; instead write the full names of each of your children on separate lines.

Another key benefit of setting up a beneficiary relates to privacy. Estate information is public, so any assets passing through the estate are visible to everyone. By naming a beneficiary, the TFSA won't pass through the estate and will go directly to the beneficiary, and information about the assets stays private.

The types of beneficiaries for TFSA purposes are: a survivor who has been designated as a successor holder. designated beneficiaries (for example, a survivor who has not been named as a successor holder), former spouses or common-law partners, children, and qualified donees.

There is no limit to the number of beneficiaries that can be listed on a TFSA (although once it's above a certain number it may require a special call to your financial institution to accommodate the extra beneficiaries).

When the last holder of a deposit or an annuity contract TFSA dies, the arrangement ceases to be a TFSA. The FMV of the TFSA at the date of death will be received tax-free by the deceased's estate or other designated beneficiaries.

For any TFSA you can name a beneficiary but you can also name a successor holder. You can do one, the other, or both. The best way to describe the difference is that a beneficiary would get the money, but a successor holder would get the account.

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© Copyright 1997-2025
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Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
Industries
Forms in Spanish
Localized Forms
State-specific Forms
Forms Kit
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232