In the unfortunate event of your death, your TFSA1 can be transferred to either:

A Beneficiary

or

A Successor Holder

Who can be a beneficiary?

Who can be a successor holder?

A beneficiary can be anyone

A successor holder must be a spouse or common-law partner

How your funds will be handled:

Beneficiaries

The beneficiary will receive the funds from your TFSA. They can also add those funds to their own TFSA if they have sufficient contribution room, which will allow them to benefit from tax-free growth.2

Successor holders

The successor holder will become the owner of your TFSA and can then transfer the funds to their own TFSA. This will not affect their contribution limits.