Did you know that if there is no beneficiary listed on your TFSA, the asset will become part of the estate and be subject to probate fees.
"Tax-free Saving Accounts (TFSAs) were introduced just a decade ago, in 2009. And while knowledge of their advantages and limitations is growing, some confusion still exists regarding the best way to handle a TFSA when the accountholder dies."
Read the Investment Executive article "The fate of TFSs upon death" to find out more.
Please contact our office if you have any questions, 519-822-2024.