When a Tax-Free Savings Account (TFSA) holder passes away, the handling of the account depends on whether the account has a named successor holder or a designated beneficiary. Here’s a breakdown of the main scenarios:
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The choice between a Tax-Free Savings Account (TFSA) and a Registered Retirement Savings Plan (RRSP) depends on various factors, including your financial goals, current income, and retirement plans. Here are some key considerations for both: