Sentences with phrase «be your successor holder»

Note that only a spouse can be your successor holder: if you want a child or other heir to receive your assets, they must be named as the beneficiary.

«For example, it is superior to be a successor holder for TFSA for a spouse, and our best advice is that a spouse be named a successor holder rather than a beneficiary of the TFSA,» says Caskey.

Not exact matches

upon the exercise of an Option or Stock Appreciation Right or upon the payout of a Restricted Stock Unit, Performance Unit or Performance Share, for each Share subject to such Award, to be solely common stock of the successor corporation or its Parent equal in fair market value to the per share consideration received by holders of Common Stock in the Change in Control.

The stolen base was transported by County Stadium functionaries to Brock, the dethroned record holder, who waited at home plate for his successor.

More recently, the U.S. attorney was floated as a potential successor to U.S. Attorney General Eric Holder.

U.S. Attorney Preet Bharara deflected questions Tuesday about whether he wanted to be the next U.S. attorney general — then ticked off several types of crimes his office has successfully prosecuted and said Eric Holder's successor should make them priorities.

Still, sources said, his name has been floated as a potential successor to his boss, U.S. Attorney General Eric Holder, a position that some close to him said he would relish.

The main thing is to ensure you and your partner do the paperwork and name each other a Successor Holder for your respective TFSAs.

If you want your spouse or common - law partner to have access to your account after your death, he or she should be designated as the «successor holder.»

That's because after the accountholder dies, ownership can pass to the successor and the TFSA can continue sheltering income without eating up the successor holder's contribution room.

A successor, who can only be a spouse or common - law partner, becomes the new account holder and acquires all rights that the original account holder had.

David T. asks: What are the differences between the «successor holder» and «beneficiary» designations and which is the best way to proceed in regards to my spouse?

Note that only a spouse or common law partner qualifies as a successor holder — anyone else must be listed as a designated beneficiary.

Only spouses or Common Law partners can be named a successor holder.

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.

A successor holder must be your spouse or common - law partner, as defined by the Income Tax Act.

@Juan — The difference is that the successor holder can take over the account automatically as of the date of death and the money remains tax - sheltered in the TFSA.

how does it work if the successor holder / beneficiary is a minor upon my death?

Caroline — The successor holder has to be a spouse.

Jessie dies with a $ 60,000 TFSA and his wife Jenny was not a Successor Holder, but was beneficiary of the estate, so inherited the TFSA via Jessie's will.

As noted earlier, the optimum thing if you are a spouse or Common - law partner (CLP) is to name each other as Successor Holders to the partner's TFSA, while both are still alive.

But what of the trickier situation when death occurs without a Successor Holder having been designated?

Note that only spouses or Common - law partners can be named Successor Holders.

By law, only your current spouse or common - law partner, as recognized by the Income Tax Act (Canada), can be a valid successor holder.

If you have designated both a successor holder, and a beneficiary, at your death, the person designated as your successor holder will become the holder of your TFSA except if that person has either a) died before you; or b) is no longer your current spouse or common - law partner at the time of your death.

A successor holder is someone who takes over your TFSA when you die.

If you want your TFSA to go to your spouse and you live in a province that allows successor holders, Edmund, it's important to name your spouse as the successor holder, not just the beneficiary.

Appointing a successor holder or a beneficiary may save probate, but it may not result in your estate wishes being carried out in the way you wish.

If your TFSA was established in 2009 when the account was first introduced, you likely didn't appoint a successor holder at that time as the concept did not initially exist.

If your sister - in - law was the TFSA beneficiary or successor holder, you may be able to transfer the TFSA investments «in kind» or as is from one TFSA to another, Rosemary, but that will be up to the transferring and receiving financial institutions.

Your brother may have appointed your sister - in - law as the «successor holder» for his TFSA, which is slightly different from appointing her as the «beneficiary.»

If your brother did not name her as the beneficiary or successor holder for his TFSA, the account would be payable to his estate.

Platform holder confirms that next Legend of Zelda title has been in development for Wii U and console successor simultaneously, and will also launch next year

I still remember when the successor to the PSP was unveiled at a press event as the NGP, which stood for the generic place - holder moniker, Next - Generation Portable.

The preview of Android M, successor to Android 5.0 Lollipop, is available now to developers and holders of Nexus 5, Nexus 6, Nexus 9 and Nexus Players.