Beneficiary Designation Worksheet
A worksheet for recording beneficiary designations across all accounts, insurance policies, and registered plans.
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A beneficiary designation worksheet is a personal financial planning tool used to record and review all of your beneficiary designations across bank accounts, registered plans (RRSP, RRIF, TFSA, RESP), insurance policies, pensions, and employer benefit plans. Beneficiary designations on registered accounts pass outside of your will and directly to the named individual — making them one of the most important, and most often overlooked, elements of an estate plan.
Why this matters
Many Canadians die with outdated beneficiary designations — naming a former spouse, a deceased parent, or leaving the field blank (which defaults to the estate and triggers probate). Reviewing your designations regularly ensures that the right people receive the right assets quickly, without delay or court involvement.
What this worksheet covers
The worksheet provides space to record the account type, institution, account number, primary beneficiary, contingent beneficiary, and date last reviewed for each asset. It is intended to be reviewed annually and any time there is a major life change — marriage, divorce, birth of a child, or death of a named beneficiary.