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Managing Assets upon Death (2019 Edition)


  • CFP® and QAFP® certificants: This course qualifies for 6.0 CE credits as approved by FP Canada Standards Council in the Financial Planning category.
  • Life Agents (provincial requirements): up to 6.0 hours, Eligible in BC, SK (subject to a maximum of 5 in non-insurance subjects), ON, AB (AIC #52840, 6 credits in Life category if completed by September 10, 2022). 
  • CPAs: 6 verifiable CPD hours

FORMAT: Course Notes in PDF format (87 pages - print them or read them online). You must pass an online Course Quiz to obtain CE credits.

COURSE DESCRIPTION: This Course was updated in 2019 to reflect all recent changes and current tax rates.

Over our lifetimes, we all tend to accumulate “stuff”, including investment assets, homes and various types of personal property. But as the saying goes, “you can’t take it with you”. This Course discusses what happens to a person’s property upon death, from the point of view of both the financial planner who is providing estate planning services, and the executor who has the challenge of managing and distributing those assets. Topics include:

  • Wills, including legal requirements, using multiple wills, and the impact of marriage and divorce
  • Probate, including when and why it is required, probate fees and probate management strategies
  • Intestacy, including how it impacts the management of the estate, how assets are distributed, and its drawbacks
  • Beneficiary requirements, including what happens if the beneficiary is a witness or executor, beneficiaries’ rights, and how an executor might deal with the beneficiaries
  • Taxation of non-registered assets upon death, including the deemed disposition rules, capital losses, capital gains exemptions, the spousal rollover provisions, rollovers of farms or fisheries to children, and various ways of implementing an estate freeze
  • Taxation of registered assets upon death, including the deregistration of RRSP and RRIF assets, who is liable for the resulting income tax, rollovers to a spouse or dependent child, successor annuitants, changing RRSP values after death, and TFSAs
  • What an executor needs to do when closing an estate, including filing tax returns, obtaining a clearance certificate from Canada Revenue Agency, transferring legal ownership of various assets to the beneficiaries, and the role of executor insurance

AUTHOR: Roxanne Eszes, CFP®

    NOTE: You have one year from time of purchase to complete this course.

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