Quote:
Originally Posted by badbrass
Just a little tidbit! Just going through this with a passing of a family member!
If you and your spouse were in a car wreck, and both killed. The government
takes 48% right off the top of your RRSP's!
No Questions asked. Then the rest is split in the estate.
I will be getting rid of my RRSP's Before anything else
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Ultra rare that both spouses die at same time but yes, if the rrsp amount puts you over $200,000 income in year you die big tax bill ensues. But, that's what life insurance is for if that's a an issue.