In my last blog I noted that at the recent STEP conference, representatives of the Canada Revenue Agency confirmed that the introduction of the new qualified disability trust (“QDT”) rules had not restricted the ability to use the preferred beneficiary election, provided the requirements for the preferred beneficiary election are otherwise met. In this blog I will outline in more detail the elements of the preferred beneficiary election. The definition….

These virtual accounts are all “property” that an individual can own at the time they pass away. Unfortunately, because they are usually unknown to anyone but the owner and because they are otherwise not tangible, with little in the way of any form of physical record of their existence, they can also be lost to the virtual world unless the owner takes appropriate steps prior to his or her death…..