Lola has two adult children from her first marriage with John. She wants to leave her home to the adult children after she is gone. She also has an RRSP that she wants to leave for her second husband, Rick. When Lola dies, What will happen?
1) The estate can declare the RRSP proceeds as income of the estate
2) Her adult children will pay capital gains taxes on the home
3) Rick can roll the RRSP into his own RSP
4) Lola's terminal return will have to include the RRSP proceeds