Can a trust avoid tax on a deceased person’s RRSP?

Callum Sutherland - Apr 06, 2021
When she died, the woman owed more in back taxes than the $76,616 in her RRSP. On receiving the RRSP proceeds, the daughter paid the expenses and distributed the rest as instructed. The Canada Revenue Agency (CRA) later assessed the daughter personal

"When she died, the woman owed more in back taxes than the $76,616 in her RRSP. On receiving the RRSP proceeds, the daughter paid the expenses and distributed the rest as instructed. The Canada Revenue Agency (CRA) later assessed the daughter personally for the RRSP’s full amount."  Read more and you can see why it is important to have professionals like lawyers, accountants, and financial advisors involved in your planning.