Because RDSP beneficiaries will probably have lower income than their families once they become adults, people think that they should wait until the beneficiary is an adult before opening. The analysis doesn’t necessarily bear this out. Read the post:
None of us know what the future holds. The wisdom of families who have gone before is the mantra that "good planning sews the seeds of peace of mind".
If you live in BC, you can easily plan ahead for future holders of RDSPs with a Representation Agreement.
Click here for the full post: http://rdspresource.ca/index.php/2011/11/account-holders-and-representation-agreements/
Starting in 2009 CLBC has been actively encouraging families to consider Individualized Funding as an option for their family member with a developmental disability.
The CLBC website has some good print resources to help families decide if this option is for them.
You might also want to check out the BC Coaltion for People with Disabilites who have a section of their website dedicated to Individualized Funding including a downloadable guide (pdf).The guide is a bit tricky to find, you need to click on the "Guide to Individualized Funding" at the bottom of the resources page.
If you are interested in this funding option contact your CLBC facilitator for more information.
PLAN has created a new site – www.rdsp.com. It’s the go-to site for information about Canada’s new registered disability savings plan and the accompanying Canada Disability Savings Grant and Bond.
Canadians with disabilities and their families have a new financial tool with which to secure their financial futures: a Registered Disability Savings Plan. The deadline of December 31, 2010 is looming large for 2010 contributions.
You can get information about the RDSP at the blog www.rdsp.com and at the PLAN website www.plan.ca.