How is a non-registered account taxed upon death? + MORE Jan 14th

The “Big Five” Canadian banks offer credit cards and include Royal Bank of Canada, Toronto Dominion Bank (TD Canada Trust), Bank of Nova Scotia, Bank of Montreal and Canadian Imperial Bank of Commerce (CIBC). Did you know that there are many other options?
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This Week in RWRDS January 17, 2025: Win a trip for 2 to Tokyo & an up to 85,000 Aeroplan Points bonus + MORE Jan 18th

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Clarification on Scotiabank credit cards marketed with up to 4x points on Scene+ Travel purchases, AIR MILES Card Linked Flash Offer for Best Buy and Catch up on the RWRDS Canada Podcast. Check out today’s points & miles updates here:
The post RWRDS Daily Update Jan 13: Clarification on Scotiabank credit cards marketed with up to 4x points on Scene+ Travel purchases appeared first on Rewards Canada.

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Ask MoneySense
With so much information out there about estate planning with RRSPs and TFSAs, the one thing l find hard to find answers to are [questions] related to investments in a non-registered account in a brokerage. I am trying to draw down my RRSPs and RRIFs in a tax-efficient manner so that there isn’t a large amount of future tax payable on the last surviving spouse.

It’s my understanding that you cannot name a beneficiary to your non-registered account at a brokerage and that it will have to go through probate and the estate. Am l better off not having such a large amount in a non-registered account at a brokerage? I currently have a total of $450,000 in there. Should l have it in GICs at a bank or credit union and name a beneficiary for them? Should l slowly sell off my stocks to avoid a large tax bill down the road or in the event that l pass away?

—Joe

During their working years, savers tend to focus on tax deferral, especially using registered retirement savings plans (RRSPs)…

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