An RDSP is a Registered Disability Savings Plan created by the Federal Government in to allow individuals with special needs to invest for their future. By opening and contributing to an RDSP you automatically qualify for up to $90,000 of grant and bond money. Even without any contributions, you may be eligible for up to $20,000 of bond money.
How does an RDSP work?
All you have to do to be eligible to open an RDSP is to have been accepted for the Disability Tax Credit, be a Canadian resident, have a Social Insurance Number and be under the age of 60.
Are there other benefits available to me other than the significant Grants and Bonds?
Definitely. Not only can you receive up to $90,000, the money invested in an RDSP will NOT affect your disability (such as ODSP), OAS or GIS payments. Contrary to what many people and even financial advisors believe, an RDSP should be used with a Henson Trust as the Henson Trust has limitations that the RDSP does not.
Why Geoffrey Zaldin is passionate about helping families with Special Needs?
I am so passionate because I not only provide financial and estate advice specializing in servicing the special needs community but am also a father of a daughter with Cerebral Palsy. As a father of a child with special needs I am personally affected and have had to deal with many of the same issues as you have. I know how hard it is to always have to advocate on your child's behalf. As a financial advisor that specializes in financial and estate planning for individuals with special needs, I will work with you and develop a NO COST comprehensive financial and estate plan. I will help explain why a proper plan includes both RDSP’s and Henson Trusts and will work with you to ensure that both are funded properly. I will also help work through various issues regarding financial and estate planning that is specific to families that include individuals with special needs.In addition to providing an individualized comprehensive financial and estate plan I will help clients in filling out the Disability Tax Credit form, help deal with CCAC and ODSP and also will be a resource sharing information about programs and services that are available throughout the community.Planning for individuals with special needs is very complex and it is important that the professionals you are working with and relying upon have the necessary expertise to help guide you. I look forward to speaking with you shortly. Please contact me via email at Geoffrey@SpecialNeedsFinancial.ca or by telephone at (416) 221-0060 Ext. 240.Thanks and have a great day.Geoffrey Zaldin,
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