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Individual vs. Family RESP

  • Writer: Clement Chung
    Clement Chung
  • Sep 24, 2020
  • 1 min read

There are two main types of RESP – and which one you choose often depends on your relationship to the beneficiary:

  • An Individual RESP can be opened by anyone for anyone.

  • A Family RESP can be opened by parents or grandparents of the children and can be withdrawn in the name of any beneficiary named to the plan.

Key Differences


 
 
 

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