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Home→Financial Institutions→Wealthsimple→Preparing your estate

How to designate beneficiaries at Wealthsimple

Covers 2 investment accounts — beneficiaries can be managed online

OverviewPreparing your estateWhen someone dies

Wealthsimple

Brokerage · Online Only

wealthsimple.com→
Wealthsimple logo

Wealthsimple Client Success

Phone1-855-255-9038
Emailsupport@wealthsimple.com
Mailing Address

Wealthsimple Inc., 80 Spadina Ave, Toronto, ON M5V 2J4, Canada

WebsiteLearn more→

Wealthsimple Client Success

Phone1-855-255-9038
Emailsupport@wealthsimple.com
Mailing Address

Wealthsimple Inc., 80 Spadina Ave, Toronto, ON M5V 2J4, Canada

WebsiteLearn more→

Wealthsimple Estates Team

Phone1-855-255-9038
Emailsupport@wealthsimple.com
Mailing Address

Wealthsimple Inc., 80 Spadina Ave, Toronto, ON M5V 2J4, Canada

WebsiteNotify online→
Verified May 2026

There are two ways to keep your Wealthsimple investment accounts out of probate: adding beneficiary designations and structuring ownership to align with your estate plan. Which approach works best depends on the account type and your overall estate plan.

Each of Wealthsimple's 2 investment accounts has different rules for how it transfers at death. The sections below explain the options for each.

Managed InvestingSelf-Directed Trading
1
Log in to your Wealthsimple account at wealthsimple.com or the Wealthsimple app
2
Navigate to the registered account settings
3
Select "Add a beneficiary" or "Add a successor"
4
Enter the beneficiary's full legal name and other required details
5
Assign percentage allocations if naming multiple primary beneficiaries
6
For successor designations, complete the online form (no physical signature required)
Online Portal→

Special Requirements

  • Beneficiary designations are only available for Canadian registered accounts (RRSP, TFSA, RESP, FHSA)
  • Non-registered and chequing accounts require a will for estate distribution
  • Quebec residents cannot designate beneficiaries through Wealthsimple due to provincial law
  • A primary beneficiary receives the funds in the account (not the account itself), bypassing the estate and avoiding probate fees, but the account is terminated
  • This process is not available to US residents as Wealthsimple no longer operates in the US

Wealthsimple

Brokerage · Online Only

wealthsimple.com→
Wealthsimple logo

Wealthsimple Client Success

Phone1-855-255-9038
Emailsupport@wealthsimple.com
Mailing Address

Wealthsimple Inc., 80 Spadina Ave, Toronto, ON M5V 2J4, Canada

WebsiteLearn more→

Wealthsimple Client Success

Phone1-855-255-9038
Emailsupport@wealthsimple.com
Mailing Address

Wealthsimple Inc., 80 Spadina Ave, Toronto, ON M5V 2J4, Canada

WebsiteLearn more→

Wealthsimple Estates Team

Phone1-855-255-9038
Emailsupport@wealthsimple.com
Mailing Address

Wealthsimple Inc., 80 Spadina Ave, Toronto, ON M5V 2J4, Canada

WebsiteNotify online→
Verified May 2026

Estate planning articles

Learn how to protect your Wealthsimple accounts and other assets with trusts, beneficiary designations, and estate planning documents.

When you're ready, we're here.

A revocable living trust skips probate, stays private, and takes 15 minutes.

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Estate planning articles

Learn how to protect your Wealthsimple accounts and other assets with trusts, beneficiary designations, and estate planning documents.

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New Baby or Adoption

New Baby or Adoption

Your family is growing. Your protection should too. Guardian nominations, trusts for minors, beneficiary updates, and the documents new parents need in place.

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Marriage

Starting a life together means planning for it. Beneficiary updates, asset titling, powers of attorney, and what blended families need to know.

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