BENEFITS FOR RRSP/RRIF & TFSA GIFTS
Other benefits to making Surrey Hospitals Foundation the beneficiary on your RRSP/RRIF or TFSA include:
- Even more tax savings because the transfer of your registered savings account happens outside of your estate so no probate fees will need to be paid.
- Reduced estate administration fees because the account is transferred outside of your estate.
- The opportunity to use the tax credits generated by the gift over the course of several years of tax returns. Your executor can apply tax credits to your final income tax return or the estate tax return.
- Ease of transfer of the registered assets directly to the Foundation outside of estate administration and probate.
To obtain the change of beneficiary forms, please contact your bank or financial advisor.
Disclaimer: The information listed above is intended to provide general information and should not be construed as legal or other professional advice. Please review with your own legal or other professional advisor to determine its suitability for your unique estate planning situation.