Quote:
Originally Posted by RiceIntegraRS
I have a life insurance policy, i believe its enough where the mortgage would be paid off. I got it before i had kids. I pay $2400/yr and its a life insurance/investment account type deal. Ive had it for 5 years so i have alil over 11k in it which i could withdraw any time(with fees of course) The beneficiaries are my wife and mom. If i set the beneficiaries to my kids and wife in my will, will that overturn what i had set for my beneficiaries in my Life Insurance policy? I do have a couple bank accounts, and another life insurance policy through the bank aswell. Im abit lazy to contact them all and switch them all up, if a Will would possibly trump all of that.
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https://www.advisor.ca/advisor-to-cl...beneficiaries/
Wills don't trump designated beneficiaries in cases where they're named so *if* I had a side piece she could get the RRSP instead of my wife and kid if I named it that way in my RRSP.
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Current: 2019 Acura RDX
Gone: 2007 Acura TSX, 2008 Mazda 3 GT, 2003 Mazda Miata LS, 2008 Mazda Miata GT PRHT, 2003 Mazda Protege 5
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