An insurance-based investment that can name a beneficiary.
In Islamic law
Another instrument that moves value outside the estate — and raises the same disputed question about whether it leaves the tarikah.
In Canadian law
Passes outside the estate like a life insurance policy, avoiding probate.
We have not yet researched whether the four Sunni schools differ on this term, so we are not going to tell you either way. Where a specific case turns on it, ask a qualified scholar rather than relying on a general summary.
Canadian legal detail
Treadstone Law, an Ontario firm with a wills and estates practice, covers the Canadian side of this in more depth:
- Segregated fund beneficiary creditor claims ontario
- Segregated fund creditor protection beneficiary ontario
- Segregated fund vs mutual fund death beneficiary ontario
This is legal information only. For advice on your own circumstances, speak to a lawyer.
Citations & sources
Every factual claim on this page traces to a source below. Details change — check the original source before relying on any figure, fee or legal position. Anything under “further reading” is related material, not a source for what is stated here.
- What to do when someone has died — Canada Revenue Agency
- Segregated fund beneficiary creditor claims ontario — Treadstone Law
- Segregated fund creditor protection beneficiary ontario — Treadstone Law
- Segregated fund vs mutual fund death beneficiary ontario — Treadstone Law
- Donating life insurance policy to charity tax credit ontario — Treadstone Law
- Wills & estates practice — Treadstone Law