Designation of Beneficieries – Wills by Paljinder Mahaar
Designation and Revocation of Beneficiaries under insurance Plans and Policies: The middle class has a great deal of wealth invested in various insurance policies, such as TFSA, RESP, RRSP, Life insurance, etc., which should not be ignored. Designation, change or confirmation of a beneficiary for registered plans or insurance policies in your will is part of your plan for distributing of your assets. Part II of the Succession Law Reform Act governs the designation of beneficiaries of interest in funds or plans, including RRSPs and RFIFs. Section 51 of the legislation states that a participant my designate a person to …
