What happens to my FHSA if I die before using it to buy a home?

It depends on how your FHSA is designated, and the outcome can differ quite a bit depending on that designation. If you've named a successor holder, typically a spouse or common-law partner, they can generally continue the FHSA in their own name in some circumstances, effectively stepping into your shoes on the account rather than simply receiving a payout. If instead you've named a different beneficiary, or have no successor holder in place, that person would generally receive the account's value rather than continuing the plan itself, which can carry different tax consequences than a successor-holder continuation would.

Because this outcome is so fact-dependent on the specific designation you've made, and because the FHSA is a relatively new registered plan, it's genuinely worth confirming the current rules around death and succession directly rather than assuming they mirror an RRSP, RRIF, or TFSA in every respect. Reviewing your FHSA's designation alongside your broader estate planning, rather than treating it as a separate, minor detail, is a sensible step, particularly if your home-buying timeline is uncertain or your family situation has changed since you opened the account.