Tag · Canada
probate
Loopholes Tagged "probate"
Plain-English guides to Canadian legal rights and workarounds related to probate.
Easy estate-planning
Beneficiary Designations: Bypassing Probate on RRSPs, RRIFs & TFSAs
Naming a beneficiary on your RRSP, RRIF, TFSA, and life insurance policies causes those assets to pass directly to your beneficiary outside of your estate — avoiding probate fees (up to 1.5% in Ontario), delays of 6–18 months, and public disclosure of your estate.
Medium estate-planning
Joint Tenancy and Right of Survivorship — Bypass Probate by Co-Owning Property
Property held in joint tenancy passes automatically to the surviving co-owner on death — bypassing the estate and probate entirely — but the strategy has significant tax and family law implications that must be understood first.