The Hidden Tax Trap: What Happens to Your RRIF When You Die?
For many Canadians, Registered Retirement Income Funds (RRIFs) and Registered Retirement Savings Plans (RRSPs) represent a lifetime of hard work. However, without precise planning, these accounts can become significant liabilities, triggering massive tax bills and fueling complex estate litigation. At Derfel Estate Law, we frequently encounter disputes where technical misunderstandings regarding beneficiary designations erode the value…