Q&A: RESP Assets

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What happens if you die while there are still assets in an RESP you’ve opened?


Q – What happens in the event an RESP subscriber dies before the funds are released from the plan? Does the executor of the subscriber’s estate step into this role or nominate someone for this purpose? – Norman M.


A – According to the Canada Revenue Agency website, there are two possibilities on the death of a subscriber.

1. The rights to the RESP pass to an heir after death (most likely a surviving spouse). This person is the new subscriber and can continue to make contributions to the plan if desired.

2. The deceased’s estate acquires the subscriber’s rights, and can continue to make contributions to the plan.

For more information go here and read the section titled “Who can be a subscriber?” – G.P.


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