Sentences with phrase «named successor holders»

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

«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.

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

Note that if you name both a successor holder and beneficiary on a TFSA, the successor holder will override the beneficiary.

Tip — Name a beneficiary, even if you have already named a successor holder.

Name a successor holder who becomes the accountholder.

Not exact matches

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.

In fact, you can name both a successor holder and a beneficiary — for example, a man could name his wife as a successor holder and his child as beneficiary, meaning his wife would get the money after his death.

If you have a spouse, make sure you name each other the «successor holders» of your TFSAs.

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.

You can name one another as «successor holder», so that, when one of you passes away, the survivor simply becomes the new owner of the plan.

Update — My wife phoned ING, and we do not have any successor holder or beneficiary named on our accounts.

Previous post: Estate Planning With Your TFSA — Tax - Free Savings Account — Naming A Beneficiary Or Successor Holder

You can name different successor holders or beneficiaries to each account.

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.

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.

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