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Beyond a savings tool for post-secondary education, the RESP can be a powerful component of a broader wealth plan.

Conversations about intergenerational wealth planning often revolve around trusts, life insurance or real estate. But one of the most accessible and tax-efficient vehicles for creating a lasting legacy and building wealth is the registered education savings plan (RESP).

RESPs continue to provide unmatched advantages for education savings. That includes tax-deferred growth on contributions and tax-efficient withdrawals with educational assistance payments (EAPs), which are taxed in the hands of the student. RESPs also provide the opportunity for government matching through the Canada education savings grant (CESG), and the Canada learning bond (CLB) to support lower-

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