Final answer:
A spouse or common-law partner can indeed become the new owner of a TFSA upon the holder's death if the holder has made the proper successor holder designations/appointments.
Step-by-step explanation:
Regarding the transfer of a Tax-Free Savings Account (TFSA) in Canada, it is true that a spouse or common-law partner can take ownership of the TFSA if the owner has made the necessary designations/appointments. This can be done by naming them as the 'successor holder'. If designated properly, the spouse or common-law partner becomes the new account holder upon the death of the original TFSA holder, and the assets within the TFSA continue to grow tax-free under the spouse's ownership.
However, it is important to follow the specific procedures required for this designation, ensuring that all legal requirements are met. Without the proper designations, the TFSA may be subject to different estate rules and may not automatically transfer to the spouse or common-law partner. Consulting a financial advisor or lawyer for estate planning is advisable to ensure correct procedures are followed.