Advance cancer treatment for generations to come while taking advantage of strategic tax benefits.
Registered fund beneficiary designations are a great way to make a lasting impact on cancer care while ensuring you’re also taken care of.
By naming The Princess Margaret as a beneficiary of your Registered Retired Savings Plan (RRSP), Registered Retirement Income Funds (RRIF), or Tax-Free Savings Account (TFSA), you may be able to reduce taxes on your individual income or your estate, possibly leaving more for your loved ones.
Typically, these assets are the most heavily taxed when transferred to the next generation. However, they should not be subject to fees, such as probate and Trustee compensation, as they often fall outside of your estate. That means you can pass along these tax benefits to your loved ones, too.
How to update a beneficiary designation:
Simply contact your bank, retirement plan administrator, insurance company, or other financial institution to request a beneficiary designation form. You may also be able to log in to your account and update your beneficiaries online.
