RRSP rollover into an RDSP can provide tax savings
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.
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