Sentences with phrase «successor holder when»

You can designate a beneficiary or successor holder when you set up your TFSA or any time later on.

Not exact matches

When you die, your spouse, as successor holder, becomes the new owner of your TFSA.

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.

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.

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

To illustrate the complexity involved when you did NOT specify a Successor Holder before death, consider this example from the Mackenzie brochure.

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

Important: As set out in the language on the form, when you change either your successor holder or beneficiary designation, this will revoke all previous designations on that particular TFSA.

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.

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.