The final Brown Bag Lunch meeting for the 2024-2025 term was held on June 18, 2024. As usual, participants raised interesting discussion topics and generously shared their thoughts with other attendees.
The first subject raised by a BBLer related to planning methods when dealing with registered plans and a disabled beneficiary where there is a need for flexibility in the event of a surviving spouse. Attendees made some suggestions about lifetime benefit trusts and annuities purchased by those trusts, Henson Trusts, and how to avoid losing a rollover of an RRSP. One consideration raised by the participant who initially raised this question was whether it may be more practical and efficient to have the registered plan be paid into the estate and make the allocations thereafter, noting that the cost of setting up some of the alternate arrangements discussed may be the same or more than the estate administration tax payable.
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