Types of resp

types of resp

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There are three basic types of RESPs available to you: individual plans, family plans and group plans. It is important to speak with your financial adviser to. A registered education savings plan (RESP) is a contract between an individual (the subscriber) and a person (the promoter). Under the contract, the subscriber. In a family plan, all beneficiaries must be related, by blood or adoption, to the plan subscriber, such as grandchildren, great-grandchildren, brothers or.
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If your RESP is with a scholarship plan dealer, there will likely be other fees such as: Sales fees or commissions Commissions What you pay to a broker or agent for their services. Are you ready to turn your financial dreams into reality? Family RESPs For families with more than one child, this could be an ideal option as the funds can be shared among the children.