Saving for your child's education may not be at the top of
mind when they are young, but when put to the test, starting to
plan early will get you and your child at the top of your
[financial] class.
Crowe MacKay's trusted advisors review what a Registered
Education Savings Plan (RESP) is, who is eligible, and how to best
plan so you get the most out of your savings.
*In this article a subscriber is referred to as the
individual(s) who set-up the RESP
Who is eligible for an RESP?
To be eligible for an RESP the following requirements must be
met:
- The beneficiary must have a valid Social Insurance Number
(SIN)
- The beneficiary is a resident of Canada
- The beneficiary under a family plan must be less than 21 years
of age at the time they are named as a beneficiary
