A tax-free savings account, which can name a successor holder or a beneficiary.
In Islamic law
Same structural issue as an RRSP — the account passes outside the estate and outside the shares.
In Canadian law
A spouse named as successor holder takes over the account intact. Anyone else named as beneficiary receives the value, with growth after death taxable.
No significant difference between the four Sunni schools is recorded on this point in the sources reviewed. 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:
- Tfsa over contribution penalty amount
- Changing beneficiary share in will ontario
- Naming a charity as rrsp beneficiary tax canada
This entry is general information, not legal or religious advice. Inheritance turns on the exact family circumstances. Confirm Canadian law with a lawyer in your province, and any religious ruling with a qualified scholar.
Citations & sources
Every factual claim on this page traces to one of the references below. Legislation and dollar thresholds change — verify against the primary source before relying on any figure.
- Death of a TFSA holder — Canada Revenue Agency
- What to do when someone has died — Canada Revenue Agency
- Death of an RRSP annuitant — Canada Revenue Agency
- Who can be beneficiary ontario — Treadstone Law
- How long must executor search missing beneficiary ontario — Treadstone Law
- Rrsp deduction limit vs contribution room ontario — Treadstone Law
- Segregated fund beneficiary creditor claims ontario — Treadstone Law
- Henson trust after beneficiary dies ontario — Treadstone Law
- Wills & estates practice — Treadstone Law