November 29th, 2012 by Questions
If my elderly mother files bankruptcy will they take her rif?
Posted from: Ontario
November 29, 2012 at 9:27 am, A licensed trustee said:
The RIF will nt be seized, but if your mother has the right to make large withdrawals, inaddition to whatever her normal payments are, then her trustee may have the same right. For example, if your mother is allowed to make a $5,000 withdrawal once per year then her trustee may be able to make that same withdrawal. She should bring a copy of her RIF documents with her when she goes to see a trustee BEFORE she files.
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