Probate fees vs. income tax

Tax is one of the trickiest parts of estate planning, so when I see good information about it, I can't wait to share it with you. Here is a link to an article by Canadian Tax Resource Blog. It compares and contrasts probate fees and income tax with respect to certain assets. In particular, it talks about the effects of naming a beneficiary on an RRSP or RRIF. To add to the advice given in this article, I suggest that you check the tax effects of your beneficiary designation with your accountant or estate planning lawyer.