Q - I've just finished your excellent book The Ultimate TFSA Guide and realized how little I know.

Q – Let's say person owns stock which he purchased some time before he opened his Tax-Free Savings Account (TFSA). The shares gained in value between the time of purchase and the time of opening the TFSA. He then transfers the shares directly into the TFSA. Subsequently, he sells the shares in the TFSA. Presumably any capital gains are tax-free as well as dividends. What are the tax implications for any unrealized capital gains or dividends attributable to these shares prior to the opening of the TFSA? – Jim P.

Q – My wife and I each opened a TFSA with ING Direct on Jan. 1, 2009 and contributed again this year. During a recent interview that you gave on Canada A.M. I thought I heard you mention something about making sure that your account had a beneficiary listed. Since we have other accounts with ING, the two TFSA were opened over the phone. Could you please advise me (and others who may be interested) if there is any paperwork that should be completed when opening a TFSA? – George B.