Kick Ass Niels!
My mom was surprised when I told her my total portfolio is positive for YTD (including contributions), where their "safe" 50/50 high fee CIBC funds are down more than 10%. They're 80 years old and won't take my low fee index self directed advice, in case it fails (in a way, I'm happy for that). But I was happy to be able to explain to her why her 50% bond allocation crapped out this year, but will fill in the next 8-10 years (if they live that long, shiiiitt....) They also have terrible asset location for taxes, and hardly any US exposure.
One new point of learning for me, in case I or my spouse should die early.
TFSA Beneficiary vs TFSA Successor Holder.
Define your spouse to be a Beneficiary, they will receive your TFSA in cash, to be invested in their own accounts. Thus their TFSA limit stays the same.
Define your spouse to be a Successor Holder, then your TFSA moves to their ownership as a TFSA. Thus their TFSA limit doubles, saving gobs in future taxes.
We signed the forms. They're hiding in your TFSA account brokerage somewhere.
(I hope I understood the meaning correctly! If there are any tax law accountants out there, please pipe up!)