MKC Law OfficePeterborough, ON · September 25, 2026Did my Will Just Revoke My Beneficiary Designations in my RSP and TFSA?
Clients must consider their beneficiary designations. A Will almost always begins with a clause that revokes earlier Wills. Did it also cancel the beneficiary designations previously made on RRSPs, RRIFs, TFSAs and similar plans? Here’s how that works in Ontario: The Ontario Court of Appeal considered this issue in Alger v. Crumb, 2023 ONCA 209. The case confirms that a general revocation clause in a Will does not necessarily revoke beneficiary designations previously made directly with a financial institution. The wording of Ontario's Succession Law Reform Act (the " SLRA ") requires...
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