As part of your estate planning, you could consider designating a charity as the full or partial beneficiary of a Registered Account. Registered Accounts include: Registered Retirement Saving Plan (RRSP), Registered Retirement Income Fund (RRIF) and Tax-Free Savings Account (TFSA).

You maintain full use of your Registered Account during your lifetime, and any amounts that remain on your passing will transfer to your designated beneficiaries.


Benefits of a Registered Account

  • Payments from a Registered Account to a designated beneficiary generally pass outside of a will, which can reduce probate fees. 
  • Donation receipts are issued for the amount designated to charity, which can be used to offset taxes owing by the deceased or their estate. 

It should be noted that RRSP or RRIF payments to a beneficiary would generally be added to the taxable income of the deceased in the year of passing. Any amount paid to a beneficiary from a TFSA would not be taxable income. Donors should consult with their tax advisors to determine the tax consequences for their personal situation.

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Whether you’re an individual, family or business, our goal is to support you with your Generosity Plan. With regional offices across Canada, we offer confidential free consultations, with no obligation. To learn more, connect with us today or call 1.800.772.3257 to arrange to meet with a Gift Planning Consultant in your area. 

Abundance Canada is a public foundation registered with the Canada Revenue Agency (CRA). Abundance Canada is authorized to receive charitable donations, issue official donation receipts and distribute funds to registered charities in Canada through a donor-advised model we administer.
Charity Registration No: 12925-3308-RR0001.