Need to get your client thinking about a Registered Disability Savings Plan? Try this tip next time you meet.
Calculate how much a client with loved one who has a disability could afford to invest in a Registered Disability Savings Plan. Prepare two scenarios: one with a lump sum and subsequent annual contributions, and the other with regular annual contributions. Arrange a meeting with your client to discuss setting up an RDSP. Present her with the scenarios, discuss the benefits, and go through common RDSP myths. Don’t forget to talk about the estate and tax planning implications of these plans.