CFP® and QAFP® certificants: 3.5 CE credits in the Financial Planning category
MFDA: 3.5 PD credits
IIROC: 3.5 PD credits, Cycle 9 (2022-2023)
Life agents: (provincial requirements) 3.5 credits ON, SK (subject to 5 hr limit on non-insurance subjects in SK)
CLUs: Not Institute accredited, but will likely qualify for 8 Institute-approved Professional Development credits. See What's the difference?
CPAs: 3.5 verifiable CPD hours
FORMAT: Written course notes in PDF format (read them online or print them). You must complete an online Course Quiz to obtain CE credits.
COURSE DESCRIPTION: Many parents who have a child with a disability worry about that child's future wellbeing, and particularly about how to provide for that child’s long-term security after their own death. The introduction of the Registered Disability Savings Plan (RDSP) in late 2008 and the accompanying government incentives give these families a great tool to help plan for that security.
Despite the fact that RDSPs have now been available for about 14 years, they are still poorly understood and underutilized. Frequent improvements over the years have only added to the program’s complexity. By learning more about this generous program, you will be able to provide a great service to your clients who are disabled, or who have disabled family members. After completing this course, you should be able to:
- explain what an RDSP is
- help a client determine if they or a family member are eligible to be the beneficiary of one of these plans, including recent changes related to eligibility for the disability tax credit (DTC)
- help a client open an RDSP at an issuing institution
- understand the contribution rules and explain how the government incentives
- help a client maximize the benefits their RDSP can receive under these incentive
- understand the types of payments that can be made from an RDSP
- calculate the minimum and maximum payments, and
- explain how these payments are taxed
PUBLISHED: November 2022
AUTHOR: Roxanne Eszes, CFP®
NOTE: You have one year from time of purchase to complete this course.
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