RRSP rollover into an RDSP can provide tax savings

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Helping families plan with an RDSP gives advisors a broad topic of conversation with clients. 

Transferring an RRSP or a registered pension plan (RPP) by will to a Registered Disability Savings Plan (RDSP) can result in significant tax savings for an estate while providing financial security for a child or grandchild with a disability.

The rules governing RDSPs allow for a tax-free rollover of the proceeds of a deceased’s RRSP to an RDSP of the deceased’s child or grandchild who has an impairment in physical or mental functions, and who was financially dependent on the deceased when they died.

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Original Article Source Credits: ADVISOR'S EDGE, https://www.advisor.ca

Article Written By: Rudy Mezzetta

Original Article Posted on: October 20, 2021

Link to Original Article: https://www.advisor.ca/tax/tax-news/rrsp-rollover-into-an-rdsp-can-provide-tax-savings