There is one area in Quebec that a beneficiary designation is acceptable for investments…those are investments made with an insurance company…Segregated funds. These would be outside of probate, if that existed in Quebec. However, the potential for creditor protection is far greater with Segregated funds than mutual funds. Only the declaration of bankruptcy would protect registered funds but naming a beneficiary (ascendant, descendant or spouse) can offer the additional potential against creditor protection in Quebec. Being the only province that does not have a Probate Tax and the aging population, it is only a matter of time before the Province creates one.
Outlook for global equity and fixed-income markets
carl.lemieux.12
There is one area in Quebec that a beneficiary designation is acceptable for investments…those are investments made with an insurance company…Segregated funds. These would be outside of probate, if that existed in Quebec. However, the potential for creditor protection is far greater with Segregated funds than mutual funds. Only the declaration of bankruptcy would protect registered funds but naming a beneficiary (ascendant, descendant or spouse) can offer the additional potential against creditor protection in Quebec. Being the only province that does not have a Probate Tax and the aging population, it is only a matter of time before the Province creates one.
Friday, January 06 @ 3:56 pm //////