You have the option to designate Outside Looking In as the beneficiary of your Registered Retirement Savings Plan (RRSP) or Registered Retirement Income Fund (RRIF).
Your estate may claim gifts in the year of death equal to 100% of your net income in that year and the preceding year.
Avoid paying probate fees.
You have full use of your retirement savings investment while you are alive. Additionally, the gift can be revoked at any time should your financial situation change.