Why a JGBRS Account?

The joint gift of beneficial right of survivorship (JGBRS) account is an outstanding estate planning tool for your portfolio. A JGBRS account is similar to a non-registered account with the major difference being that it is held jointly by you & your successor accountholders. The JGBRS account enables you to efficiently gift your wealth to loved ones & avoid both probate fees & the lengthy estate settlement process. The account opening process is very simple & beneficial for both you & your loved ones.

How Much Can You Save on Probate?

Each Canadian province and territory is different when it comes to probate fees. Here is an example of a few provinces and their probate fees on a $1,000,000 estate:



*Stats as of 2022. Please confirm with tax accountant or tax lawyer on exact probate fees

Benefits of a JGBRS Account

On the death of the accountholder, the JGBRS account will be treated in accordance with the applicable client account agreement and account opening forms. The account is subsequently held in the name of the successor accountholder(s) without requesting probate. *Although RBCDS does not require probate to allow the assets to pass to the successor accountholder(s), these assets may need to be included in an application for probate should the executor of the deceased accountholder apply for probate or should a third party make a claim. Discuss this matter with a qualified legal advisor before opening a JGBRS account.

Your successor accountholders will receive the assets from the JGBRS account without going through the normal estate settlement process, which can be lengthy. They will receive gifted assets faster and the assets will not be subject to probate. If you open this account with multiple successor accountholders, your assets will be gifted upon your death in equal shares to the successor accountholders.

Since the ownership of the Account and assets remains with the Accountholder, only the Accountholder is entitled to give instructions with respect to the Account, trade on the Account or make withdrawals. The Accountholder is able to retain control of the Account and assets in it during his/her lifetime.

  • There is no change in beneficial ownership of the assets in the account at the time of account opening when transferring assets in kind.
  • Assets are transferred at book value.
  • The gift of the right of survivorship to the successor account holder(s) is not a taxable disposition.

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