What you need to know about TFSAs and estate planning

Sorting out “successor survivor” vs. “designated beneficiary”

When you open a Tax-Free Savings Account (TFSA), you’ll likely be asked whether you wish to specify something called a “successor holder” or whether you want to designate a beneficiary. If you’re not sure what all this means, welcome to the club. Legal jargon can be daunting. So here’s a look at what all this means, and the implications for your estate planning. READ MORE