Estate Planning: The Importance of Beneficiary Designations

When you open a Registered Retirement Savings Plan (“RRSP”), Registered Retirement Income Fund (“RRIF”), or Tax-free Savings Account (“TFSA”), the account opening documents typically include a place for a beneficiary designation.  What is a beneficiary designation, and what are the consequences of designating or not designating a beneficiary? Beneficiary Designation Explained A beneficiary designation is […]