Your Spouse’s Money is Going to his Sister
Your spouse dies tragically. You’re getting things in order to figure out how to claim on his life insurance. If he’s with your Group RRSP / TFSA, that money should also transfer to you quickly and smoothly – as it pays out long before the Probate process is done. But he started those things before he met you – and the Beneficiary on everything is his sister – meaning everything is going to pay out to her instead!
What can you do to make things better?
In most cases, your Beneficiaries can easily be changed -- as long as you're still alive! Contact us to see how to change the beneficiaries on your own life or mortgage insurance. You probably have life insurance through your employer, so check with them as well. If you’re with the Group RRSP / TFSA, you can change your beneficiaries here.
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