Make sure it reaches the people you meant it for.
Most estates aren’t complicated. They just haven’t been looked at. A few decisions now can spare your family months of paperwork, and some tax.
Sound familiar?
- You don’t have a will, or yours was written before your life changed.
- You’re not sure who’s named on your RRSP, TFSA, pension or policies.
- You’d like to leave something behind without it sitting in the estate for months.
Two routes out of an estate.
Some of what you own passes through your will and the probate process. Some can go straight to the person you name on the account or policy. Knowing which is which, and naming people properly, is most of the job.
I don’t write wills; that’s a lawyer’s job. I make sure the money side is lined up, and tell you when it’s time to see one.
Beneficiaries, named properly
Every account and policy that allows a beneficiary should have one, and the right one. It’s the simplest estate planning there is.
Probate and the estate tax
What passes through your estate in Ontario can face the Estate Administration Tax and months of delay. Assets with a named beneficiary can pass outside it.
The tax bill at death
An RRSP or RRIF that doesn’t pass to a spouse or dependent child is generally counted as income on your final return. It’s often the biggest tax year of a person’s life, and it can be planned for.
Ontario’s Estate Administration Tax.
Nothing is charged on the first $50,000 of an estate’s value.
Charged on the value above $50,000 that passes through the estate.
Example: a $500,000 estate passing through probate would pay about $6,750. Ontario rates as of 2026.
Three steps from the Clarity Process.
- 01
Conversation
What you own, who’s named on what, and who you want it to go to.
- 02
Clarity
What passes through the estate, what doesn’t, and what tax is waiting.
- 03
Confidence
Beneficiaries updated, the right accounts in place, and a clear list to take to your lawyer.
Questions people ask.
What is probate?
It’s the court process that confirms your will and gives your executor the authority to deal with your estate. In Ontario it comes with the Estate Administration Tax, and it can take months.
Which accounts can name a beneficiary?
In Ontario: RRSPs, RRIFs, TFSAs, pensions, life insurance, and investments and annuities held through an insurance company. Most bank and regular investment accounts can’t, so they pass through the will.
What happens to my RRSP when I die?
If it passes to your spouse or a financially dependent child, it can usually roll over without tax right away. Otherwise, the value is generally added to your income in the year of death, and the tax is paid before anyone receives anything.
Do I still need a will?
Yes. Beneficiary designations cover specific accounts; a will covers everything else, names your executor and, if you have young children, their guardian. I’ll tell you when it’s time to see a lawyer.
How does life insurance fit in?
The death benefit is paid tax-free to your beneficiaries. It can cover the tax at death, even out an inheritance between children, or simply replace what your family would lose.
Estate Administration Tax figures are Ontario’s rates as of 2026. This is general information, not legal or tax advice.
The first step is a conversation.
Free, 30 minutes, by phone or video. You leave with Your One-Page Picture, and Your 3 Moves arrive in writing within 24 hours.
Book your Complimentary Clarity SessionFree · 30 minutes · no obligation