In this video I walk through some estate planning considerations for Tax-Free Savings Accounts. I am going to explain how beneficiary designations work for TFSA’s when you pass away and explain a useful approach to passing your TFSA along to your spouse when you pass away that will save you time and frustration.
Are you approaching retirement, or in retirement, and wondering - when is it a good time for me to add my kids as joint owners on my investment accounts? Perhaps you want to smooth the process of getting those assets to your children later on, or you want to avoid the estate process, or possibly avoid taxes. While these may be noble intentions - adding adult children to investment accounts may carry consequences that you want to avoid.