RESP

Target creating dorm-outfitting registry

Your busy family oriented clients may be interested in this time-saving service.

By Staff |June 20, 2014

1 min read

Help clients’ kids find scholarship money

With merit scholarship money hard to come by, graduating teens should cast a wide net to find schools offering cash.

By Staff |June 2, 2014

1 min read

Young Canadians are financially fit

Canadian youth will start on firmer financial footing than their baby boomer parents, says BMO.

By Staff |May 15, 2014

1 min read

Client collapses trust to fund daughter’s education

Elsa Koertig, 48, is a single mom and schoolteacher in Moose Jaw, Sask. She earns $65,000 annually and her daughter Ingrid is heading to university. Ingrid’s straight As and clean sweep of provincial and national science fairs caught the attention of Ivy League schools, and her heart’s set on Princeton. She’s earned generous scholarships, but even after factoring in RESPs, the family faces a $10,000 annual shortfall. Elsa’s coming off a messy divorce and is saddled with mortgage, car and other debt payments. But if she could access the $100,000 stock-and-bond portfolio her deceased parents left her in trust, she’d be able to send Ingrid to Princeton. Elsa’s foggy on the details. She knows how much is in the trust, and remembers her parents saying they wanted it to fund her retirement. Can she tap the trust sooner?

By Dean DiSpalatro |March 7, 2014

4 min read