The Family RESP not very advantageous?

Écrit par Nectar Design

Through a colleague, I came across a very interesting article about family RESPs.

 

According to the reporter, the problems are with the QESI, or the Quebec Education Savings Incentive, as it is known, and especially with the technicalities of the plan.

Here are two explanations according to the article:

First, parents complain that the Quebec grant (QESI) is late or never deposited into their children's RESP account. I can confirm this because it has already happened to some of my clients. This has been a recurring problem for a long time. 

Secondly, if the parents contribute the maximum amount allowed for each child in this type of plan, the RESP beneficiary cannot benefit from more than the $10,800 limit.

This means that a child cannot hope to collect what a sibling has left on the table.

I strongly recommend that you read on. RESP: The Family Size Bug | LesAffaires.com

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