FILL OUT THE FORM BELOW AND RECEIVE A NO-OBLIGATION CONSULTATION

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If you have unsecured debt of under $10,000 and live in the Province of Ontario filing bankruptcy may not be the best option for you. We suggest you contact the Office of the Super Intendent of Bankruptcy at 416-973-6441 to discuss your options, or you can visit their website here.

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RESP`S

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

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One Response to “RESP`S”

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.