Who Gets My RRSP or RRIF If I Die Without a Will in Ontario?

If an RRSP has no named beneficiary and there is no will, the plan is paid to the estate and divided under Ontario's intestacy rules. Those rules are in the Succession Law Reform Act, and they allow only the spouse and closest next-of-kin to inherit. A common-law spouse does not inherit under that Act when there is no will.

The tax does not wait for the money to be divided. For an unmatured RRSP, the Canada Revenue Agency treats the deceased as having received the plan's fair market value immediately before death, and that amount is included in income on the final return. If a spouse, common-law partner, or financially dependent child or grandchild inherits, the legal representative and that person can elect to treat some or all of it as a refund of premiums, which reduces the amount taxed on the final return.

Only the estate trustee has legal authority to manage or distribute the estate. RRIFs and matured plans follow different federal rules, so confirm the details with an accountant or lawyer.