Ben, a self-employed security consultant, dies suddenly in a hiking accident. He has non-registered portfolio holdings of $200,000 in mutual funds and $200,000 in segregated funds. Ben has named his son Tim as beneficiary of the segregated fund contract. At his death, his unincorporated business had $100,000 in outstanding business debts.

Assuming Ben has virtually no personal assets outside of the non-registered portfolio holdings, what is likely to happen in Ben's situation?

A.The entire $200,000 from Ben's segregated fund holdings will be paid directly to Tim.

B.Ben's business creditors will have a claim on both the mutual funds and segregated funds.

C.$100,000 from Ben's segregated fund holdings will be paid to Ben's business creditors.

D.$100,000 from Ben's segregated fund holdings will be paid directly to Tim.