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Divorce & Family Law This forum is for discussing any of the legal issues involved in your divorce.

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  #1  
Old 02-02-2022, 01:11 PM
podric podric is offline
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Default Childs RDSP

Many years ago my ex insisted that we set up an Retirement Disability Savings Plan for our child and put it in her name.
The bank will only allow one parents name on the account.

The benefit of the account is if I put in $1000/year the government will add another about $3000/year to that. That is a huge amount of money.

The divorce is complete and equalization was done. There were no clauses about benefits in the final order. I believe the equalization was done on the small amount of money that was in that account, it is supposed to be for my daughter but my ex can withdraw it and lose the grant money.

My ex tried to put in a clause that income from children up to 20K per year will not contribute to child support even if that money is used to pay rent to her.
My Ex may not be contributing to this account and losing our child grant money. She may also simply take the money out and again lose the grant money, I wouldn't have any foreknowledge of it.

Our divorce was almost 2 years ago. I filed a Form 15 Change of Motion but did not put my concern for this item in there. My ex will not disclose the details for the account.

I would much rather control this account. I do not find my ex is trustworthy and can prove this with both her affidavits, playing with money etc.

How do I add this to my current Form 15 Change of motion?
What does the law say about splitting this RDSP?
How can I protect my child?

thank you.
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  #2  
Old 02-02-2022, 01:17 PM
rockscan rockscan is offline
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Quote:
Originally Posted by podric View Post
Many years ago my ex insisted that we set up an Retirement Disability Savings Plan for our child and put it in her name.
The bank will only allow one parents name on the account.

The benefit of the account is if I put in $1000/year the government will add another about $3000/year to that. That is a huge amount of money.

The divorce is complete and equalization was done. There were no clauses about benefits in the final order. I believe the equalization was done on the small amount of money that was in that account, it is supposed to be for my daughter but my ex can withdraw it and lose the grant money.

My ex tried to put in a clause that income from children up to 20K per year will not contribute to child support even if that money is used to pay rent to her.
My Ex may not be contributing to this account and losing our child grant money. She may also simply take the money out and again lose the grant money, I wouldn't have any foreknowledge of it.

Our divorce was almost 2 years ago. I filed a Form 15 Change of Motion but did not put my concern for this item in there. My ex will not disclose the details for the account.

I would much rather control this account. I do not find my ex is trustworthy and can prove this with both her affidavits, playing with money etc.

How do I add this to my current Form 15 Change of motion?
What does the law say about splitting this RDSP?
How can I protect my child?

thank you.
If the account was given to her in the settlement then you have no access or say. It is the property of your ex. Stop putting money in it.

If you are so worried about it, open your own and put money in that.
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Old 02-02-2022, 01:32 PM
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That isn't how it works. RDSPs have restrictions even when a people are married. Only 1 parent may have their name on the account so I cannot go an open a second.

The government intends the account to be for the child and provides generous grants for it. It is not for the parent to waste or to use (though they can raid it and deny the child the grant money)
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Old 02-02-2022, 01:34 PM
rockscan rockscan is offline
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In family law, the asset is owned by the parent who got it in the divorce. Your ex is named on it and it is her property. Therefore it is hers.

HER account gets grant funds if money is put into it. If she chooses not to put money in, there are no grants.

You can try to file a motion to take her name off of it but it is likely to fail.
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Old 02-02-2022, 01:41 PM
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I didn't realize about the RDSP at the time and my lawyer was clueless.
I don't understand how I would have given custody of my childs financial well being over to my ex. It is my child's account but overseen by my ex.

The fairest (because who am I to be trusted) would be to expect equal contributions and both of us to have to agree money is removed until the child reaches 18 and takes the account over.

We are talking 60-70K in grant money.....no one parent should be able to deny that to our child.
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Old 02-02-2022, 03:36 PM
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Quote:
Originally Posted by podric View Post
I didn't realize about the RDSP at the time and my lawyer was clueless.
Irrelevant. Its done.

Quote:
I don't understand how I would have given custody of my childs financial well being over to my ex. It is my child's account but overseen by my ex.
Again, irrelevant. You should have looked at all the assets when you split.

Quote:
The fairest (because who am I to be trusted) would be to expect equal contributions and both of us to have to agree money is removed until the child reaches 18 and takes the account over.
But she wont be fair so its pointless to have the account. If she is going to withdraw the money, you can open your own account and have it solely in your name. Expecting her to be fair is pointless.

Quote:
We are talking 60-70K in grant money.....no one parent should be able to deny that to our child.
IF you have an open account with funds in it. You dont have the account so you cant make that claim. If this is related to a special needs child or one with a disability you would have to argue you are the one who can make this determination. Are you actually able to make these deposits to reach this level? Is your ex able to do it? Either way, one of you was determined to be the one who is responsible for her finances until she turns 18.
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Old 02-02-2022, 06:41 PM
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But she won�t be fair so it�s pointless to have the account. If she is going to withdraw the money, you can open your own account and have it solely in your name. Expecting her to be fair is pointless.
I do not understand. How much do you know about RDSPs?
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Old 02-02-2022, 08:13 PM
rockscan rockscan is offline
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Look, you are working under the assumption your ex will put the child before herself. You know better than we do if she will. She owns the account and can do what she wants.

Therefore, dont put money into it. Save money yourself in a high interest account for your child or call the government to see if you can open a separate one if she doesnt put money into the other one.

Or file a motion to change where you ask for authority over the account and take it back. You can try to get an order for her to contribute to the account but she could argue she has no money.

You cannot make your ex do what you want. And if what you want is power over an account to ensure your child gets grant money then go and get it.
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Old 02-02-2022, 08:59 PM
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do not find my ex is trustworthy and can prove this with both her affidavits, playing with money etc.
If you have evidence that your ex has stolen money from your child, then bring that to the attention of the court. If you already have a motion to change in the works just add it.

If you do not have evidence that your ex has stolen money from your child, I'm not sure why the court would change the accounts over to you.

Quote:
How can I protect my child?
Unless you have evidence of active theft, the RDSP likely cannot be saved. As Rockscan said, open your own account and put money in there. It won't get the juicy grant, but it is better than nothing.
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Old 02-02-2022, 09:14 PM
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If you do not have evidence that your ex has stolen money from your child, I'm not sure why the court would change the accounts over to you.
This was my thinking too but that means they have a chance to screw the kid over all at once by dumping all the money just before they turn 18. It is a worry. I have to find something else to make this work.
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