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  • Resp

    Wondering how a joint RESP family plan works after separations, in particular where the separation agreement has one pay for 66% and 33% of post secondary?

    How does future contributions work?

  • #2
    Was it listed as an asset in your agreement? In most cases the account is frozen at the time of separation/divorce and left as a joint asset that is drawn from. You can start your own RESP to contribute to and use that for YOUR portion of the expense.

    For instance, my partners agreement has the resp listed as a joint asset and has not had contributions since they separated. In their agreement they are to withdraw an agreed upon sum for the portion that is set to be calculated proportionate to income. He and his ex have split the resp by the number of years of study for their kids so they get equal amounts. Now even though his agreement says otherwise, he allocated that amount ($2000) to his kids portion. He opened his own resp and uses those funds for his portion of the expense.

    School costs are a big gray area so while you may think you are responsible for 66% of the whole cost, they are actually calculated differently due to tax deductions, grants etc. When the time comes for that, definitely pay for an hour with a lawyer.

    For now though, freeze the current resp as you both own it, leave it as is, draw on it in a balanced way for school and open your own resp going forward.


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