One of my clients, a widow, died in February. She named beneficiaries for her TFSA and her RIF. Will those flow directly to the beneficiaries, or will the constitute part of the Estate?
In addition she created Joint Ownership of her considerable investment portfolio with herself and three of her children, though she retained control prior to death and declared all of the income. She has one other child, a mentally disabled older son, who is a ward of the Public Trustee in Ontario. Am I correct in concluding that the investment portfolio flows into the Estate in its entirety?