By Namratha Sankar ( July 18, 2025, 2:40 PM EDT) -- Individuals in Ontario may designate beneficiaries for their registered accounts — such as TFSAs, RRSPs, RRIFs and FHSAs (see Part III of the Succession Law Reform Act, RSO 1990, c S.26 (SLRA)). This designation ensures that, upon the account holder’s death, the proceeds are paid directly to the named beneficiary, thereby bypassing the estate. This not only avoids estate administration tax on those funds, but also often allows for a quicker distribution to the designated beneficiaries as well as regarding RRSPs and RIFFs creditor protection....