Andrew Tricomi Financial Planner

Andrew Tricomi Financial Planner Contact information, map and directions, contact form, opening hours, services, ratings, photos, videos and announcements from Andrew Tricomi Financial Planner, Financial planner, Ottawa, ON.

Independent Financial Planner & Investment Rep | Ex VP @ Stittsville Business Association | Member of Ottawa Estate Planning Council & Financial Planning Association of Canada | I enjoy planning an impactful financial future for families & entrepreneurs.

07/13/2026

What happens when a stable career and a promising side business both start demanding your full attention?

07/10/2026

But don't panic.

07/08/2026

Research suggests that to have a satisfying life, you need to regularly feel three things: achievement, meaningfulness, and joy in the moment. How well are you doing on each of those fronts?

“My RRSP goes to my kids when I die, right?”It can. But here’s what most people don’t realize: the CRA takes their share...
07/07/2026

“My RRSP goes to my kids when I die, right?”

It can. But here’s what most people don’t realize: the CRA takes their share first. And it’s not small.

When you die, the full value of your RRSP or RRIF is added to your income for the year of death. Not as a capital gain. As regular income. At Ontario’s top marginal rate, the tax on a $400,000 RRIF can exceed $210,000.

That bill comes out of the estate before anyone inherits anything.

A few things worth knowing:

The spousal rollover changes everything. If your spouse is named as beneficiary, the RRSP or RRIF can transfer to them tax-deferred. No tax at death. No disruption.

Successor annuitant vs. beneficiary on a RRIF. Most people have never heard this distinction, but it matters. Successor annuitant means the RRIF continues in your spouse’s name. Beneficiary means the account is collapsed and paid out. The result can be similar, but the process is very different.

If no beneficiary is named, the full amount is taxed on the final return. No deferral. No rollover. No exemption.

Your RRSP or RRIF is likely one of your largest assets. The decisions around how it’s designated, and who bears the tax, deserve more attention than most families give them.

If you haven’t reviewed your beneficiary designations recently, it’s worth doing now.

This post is for informational purposes only and does not constitute financial, tax, or legal advice. Consult a qualified professional before making financial decisions.

#ʀᴇᴛɪʀᴇᴍᴇɴᴛᴘʟᴀɴɴɪɴɢ

07/06/2026

Every summer event seems to come with an unspoken expectation: you’ll need a new everything. You don’t.

07/03/2026

How much money do you really need to last for your retirement? It's a question investment professionals deal with on a daily basis. As Americans live longer, they have to "plan to get to and through retirement."

07/01/2026

Warren Buffett calls self‑development “the best investment by far” because skills can’t be taxed or “inflated away.”

06/29/2026

The stock market is starting to expand again after years of shrinking — and potentially at a scale not seen since the dot-com era.

06/26/2026

It’s a wild time to be an investor — stocks continue to soar despite global tariff threats, simmering conflict in the Middle East, and rising inflation.

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