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  • #16
    There is no link. If you both paid into it then its owned by both of you. You can either subtract it from the top of the amount or from your proportionate share.

    As long as you can prove it is jointly owned (would need both your signatures for withdrawal) or that you paid into it equally, you are set.

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    • #17
      Thats my issue. I am trying to get the joint RESP's deducted from the top and she is trying to split the RESP's 50/50 and use her half for her proportionate share. These RESP's were started when the kids were babies and we have never stopped putting 50/50 monthly contributions into them, even after divorce (9 years ago).

      Our proportionate split is 77/23, because she runs a home daycare and once her BS deductions are removed, I ended up having to impute a $28,000 salary on her as she was trying to pay CS based on $9000 a year.
      The above concern could mean a huge hit financially for me .

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      • #18
        No the RESP comes off the total of the parents portion. Period. There is no language I can find but this was told to us by my husband’s lawyer. The ex in his case is trying to take it off the total expenses and its a hard no from the first judge they saw. But it is also in their agreement.

        Tell her simply no it comes off the full parental amount as it is a joint account from marriage.

        You are also subtracting the tax benefits too yes?

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        • #19
          Thanks Rockscan. I couldn't find any verbiage either for joint RESP's with the exception of it coming off the top of parents portion.

          Subtracting Tax benefits? Probably not. The child that is getting ready to go to College this fall is living with me. I guess I am allowed to apply for tax credits? Guess I should look into this.

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          • #20
            Yes if they are living with you then you should be able to claim them.

            Hopefully kid applied for every grant and subsidy as possible. And that they are paying a portion of the expenses too!

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            • #21
              Unfortunately he doesn't qualify for any kind of grants or subsidies due to my income.

              If all goes the way it should be, the RESP's should be close to cover the 1 year program he has enrolled into too at college.

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