RLB Blog

About the author: Anita Hollands
With over 25 years of experience assisting clients with their accounting and tax needs, Anita’s practice mainly focuses on tax, estate planning, and accounting for owner/manager businesses. Her passion for helping others led her to become involved with the Waterloo Wellington Estate Planning Council. She enjoys helping clients reduce their tax burden and working with them to better understand the complexities of their unique accounting and tax situations.

RRSPs and RRIFs on Death

RRSPs and RRIFs on Death

RRSPs and RRIFs can be valuable tools to reduce your income and ultimately pay fewer taxes throughout your working career when your income is likely to be at its highest. However, it’s important to designate beneficiaries in your RRSP/RRIF contract and to have a plan in place to withdraw from your RRSP/RRIF once you retire, as holding an RRSP/RRIF at the time of your death can result in a significant income tax bill.

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