RESP`S
August 10th, 2009 by Questions
Are my children`s RESP`s safe from creditors if I am the subscriber and my
wife is a joint subscriber and my child is the nominee?
Posted from: Ontario
One Response to “RESP`S”
Please post a follow up comment below:
(Note: comments are reviewed by moderators and then posted after approval. In addition, due to high volume some of the comments might not be posted.)
You must be logged in to post a comment.
August 11, 2009 at 8:15 am, Barton Goth - Goth & Company Inc. -Trustee in Bankruptcy said:
RESP’s are not considered exempt when a bankruptcy is filed. Meaning that the RESP’s would be lost and distributed amongst your creditors. However, if they are held jointly by you and your wife, then only 50% of these RESP’s are considered yours and therefore only 50% of them are lost.