Wealth Transfer Strategy: The RRIF Successor Annuitant Option

There are times when simply leaving a RIF inheritance outright to a spouse may not be your best choice. You may want to ensure that children from a previous marriage receive an appropriate bequest after your spouse passes away. Or you may be faced with a situation in which your spouse is either physically or mentally incapacitated – or financially irresponsible.

There is a way to effectively restrict your spouse’s ownership rights to your RIF investments but to still maintain RIF income during your spouse's lifetime, while controlling the disposition of these RIF assets after the death of your spouse.