(Please see the beginning of the article here)
Allowing divorced or separated parents to open joint RESPs
At present, only spouses or common-law partners can jointly enter into an
agreement with an RESP promoter to open an RESP. Parents who opened a joint
RESP prior to their divorce or separation can maintain this plan afterwards, but
are unable to open a new joint RESP with a different promoter.
Budget 2023 proposes to enable divorced or separated parents to open joint
RESPs for one or more of their children, or to move an existing joint RESP to
another promoter.
This change would come into force on Budget Day.
*The preceding information is for educational purposes only. As it is impossible to include all situations, circumstances and exceptions, a further review should be done by a qualified professional. No individual or organization involved in either the preparation or distribution of this text accepts any contractual, tortious, or any other form of liability for its contents.
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