How much could I leave behind?
Projects the net amount actually inheritable by your family after tax, probate, and funeral expenses. Use the sliders to see how time horizon, growth assumptions, and RRSP-vs-non-registered asset mix affect the final number.
How this is calculated
- 1.Current net worth: $1,200,000
- 2.Projected at death (25 years × 3.0% annual net growth): $2,512,534
- 3.Estimated RRSP/RRIF portion at death: $753,760
- 4.Estimated capital property portion: $1,758,773
- 5.Estimated tax on final return: $544,708 (RRSP inclusion $403,488 + capital gains tax $141,221)
- 6.Estimated probate fees: $37,688
- 7.Estimated funeral and final expenses: $10,000
- 8.Net inheritable to family: $1,920,137 (76% of projected estate)
A rough projection — actual outcomes depend on investment returns, spending patterns, asset mix changes, life events, and specific tax-planning choices over many decades. Use as a directional guide for planning conversations, not a precise forecast.
Figures shown are approximate, calculated from current publicly-available statutes and standard formulas. Final amounts depend on your specific circumstances — assets in your name versus jointly held, beneficiary designations, debts, province-specific exemptions, and applicable tax credits. For numbers you can act on, a Canadian accountant or licenced estate planner can verify against your actual situation.
Frequently asked questions
How accurate is this projection?
Directional, not precise. Forecasting decades of investment returns, spending, asset mix changes, and tax rules involves real uncertainty. Use this for planning conversations — 'is my legacy goal in the right ballpark?' — not for committing to specific dollar amounts.
Why does the RRSP percentage matter so much?
RRSPs are fully taxable as income on the final return (unless rolled to a spouse), while capital property is taxed only on the gain at 50% inclusion. A $1M estate that's 80% RRSP gets taxed much harder than the same $1M estate that's 80% non-registered investments. The asset mix at death is a major lever — and one that drifts over time as you draw down accounts and reinvest.
What does 'annual net growth' mean?
Net of your spending, net of inflation. If your investments grow 5% per year but you spend the dividends and inflation is 2%, your net growth is roughly 3%. For Canadian retirees drawing down RRSPs and TFSAs, net growth is often 1-3%. For accumulating households still saving, it can be 5-8%.
Should I include my spouse's assets?
This calculator sizes ONE person's estate. For a couple planning jointly, run it twice — once per spouse — and combine results, keeping in mind that the spousal rollover defers tax until the second death (typically you'd model just the second-death-of-couple scenario for combined planning).
Why does spousal rollover matter so much?
When the rollover is available (assets passing to a qualifying spouse), the final-return tax is effectively zero — the spouse inherits at the deceased's cost base and will pay tax only on their own future sale or death. This dramatically increases the inheritable amount on the first death. Plan accordingly.
How can I increase the net inheritable amount?
Common levers — maximize spousal rollover where applicable; shift assets from RRSP to TFSA over time (TFSAs are tax-free at death); use the principal residence exemption strategically; consider charitable bequests of appreciated securities (eliminates capital gains AND generates donation credit); explore life insurance as a tax-efficient wealth transfer; for large estates, consider estate freezes and family trusts.