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Problems Splitting Joint RESP

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  • Problems Splitting Joint RESP

    Exhusband and I separated (not divorced) for just over 5 years. We have a joint RESP that we did not split at the time of separation. We didn't include terms to split it in our separation agreement nor was it part of our equalization. I've been trying to unsuccessfully for the last few years to take action to split it. The main reason is his lack of motivation to split it. It's the bottom of his list of priorities. I know I could leave it, because the funds will go to our child in the end, but I would like to reinvest my share at a different financial advisor/institution without the exh interference or having to get his permission (if it remained joint). The other reason its been difficult to do is the current financial advisor, who the RESP is with, isn't motivated either and has an inconvenient process. They cannot give me the forms to take to the exh for us to sign and that I can return to them to process. They need to speak with him first and get information to complete the forms. Then they have to send him the forms. I understand the information needs to come from him, but don't understand why the forms need to go to him, as the RESP is joint.

    Is there anyway this could be done faster and easier? I've found it works well when I provide the exh with paperwork to sign. He is more than willing to sign if someone else does the up front work. Otherwise, he won't on his own accord. Can I (or a 3 rd party) do the legwork (bypassing our financial advisor), work with the exh and then working with our advisor to get the RESP split?

  • #2
    Why not just leave it and open your own RESP to get the grant money? If you did that, the funds from that RESP would go to your portion rather than the total cost.

    Failing that, you could file a motion to have it split which he would be forced to respond to.


    • #3
      Thanks for your advice.


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