09/21/2026
⚖️ Your Will may not control all of your assets when you die.
This is an estate-planning issue that can easily be overlooked.
Assets such as your RRSP, TFSA, pension benefits and life insurance may have beneficiary designations. Depending on the type of asset and how the designation was made, those assets may pass directly to the designated beneficiary rather than through your estate under your Will.
That means:
→ Your Will may leave your estate to your children, while an RRSP, TFSA or insurance policy may have a different beneficiary designation.
→ After a marriage, separation or divorce, outdated beneficiary designations should be reviewed to make sure they still reflect your intentions.
→ If a beneficiary dies before you and you have not named an alternate beneficiary, the proceeds may become payable to your estate, depending on the type of account or policy and the applicable designation.
A Will is only one part of an estate plan.
Whenever there is a major life change — marriage, separation, divorce, the birth of a child or the death of a beneficiary — it is a good time to review both your Will and your beneficiary designations.
Legal EDGE can help you review your estate plan so that your Will and beneficiary designations work together and reflect your intentions.
📞 (587) 358-0677
📍 918A 5 Ave SW, Calgary, AB T2P 0N7
🌐 legal-edge.ca
