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What is your legacy? Establish an RESP for your grandchildren

I recently attended a funeral of a client.  I have worked with her and her husband for many years. Our conversations inevitably included discussion about the lives of their children and grandchildren.  They were well informed grandparents, who were aware and concerned about the high cost of post secondary education. We discussed the valuable option of establishing a family Registered Education Savings Plan.   They were financially able and interested in making annual contributions and they loved that the government would contribute also contribute to the plan by adding a 20% grant to their contribution. 

Her daughter delivered a lovely eulogy.  She spoke about how her parents had established RESP’s for their grandchildren and the joy her Mom had experienced in being able to provide funds to each of her grandchildren as they attended university.    Her grandson also delivered a wonderful eulogy talking about his Grandmothers involvement in his life and the impact that she had on him and his siblings.  He was thankful for the financial support he received when he attended university.

As I listened to my client’s eulogy, I remembered the discussions we had about her grandchildren.  I remember those annual meetings when contributions were made with love and pride.  I remember how delighted she was when she was able to withdraw from the RESP and present cheques to her grandchildren each year when they were attending university.   It was gratifying to hear her grandson express his love and gratitude for the life of his grandmother and to comment on how much that financial support meant to him.

Wow, what an impact, what a legacy. 

If you would like to discuss your financial plan and ways you too can leave a legacy, give our office a call to schedule an appointment. 

Call 905-572-PLAN (7526)