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When you die, there are two main scenarios regarding your RRSP/RRIF

1) If you have a spouse or common law partner, the RRSP/RRIF will roll over to them tax free

2) If you do not have a spouse or common law partner OR they have already passed, the full amount of your RRSP/RRIF will be added to your taxable income in your year of death

This second point is important as different assets are taxed differently, so you need to keep that in mind when you are estate planning

If you have any further questions about this video's topic or any financial planning questions in general, I encourage you to find a certified financial planner in your area or book a consultation with us to get your savings plan on track.  You can email [email protected] and we will set up a meeting with you.
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DISCLAIMER: The videos and opinions on this channel are for informational and educational purposes only and do not constitute investment advice. Adam Bornn is not registered to provide investment advice and as such does not provide recommendations - those looking for investment advice should seek out a registered professional. Adam is not responsible for investment actions taken by viewers and his content should not be used as a basis for investment trades.

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