Td Wealth and Estate Planning

plan: It takes time, and a plan, to begin withdrawing funds from an RESP set up to pay for post-secondary education, according to The Toronto Star. Dreamstime Nicole Ewing, a vice-president of tax and estate planning at TD Wealth, says sooner is better than later to meet with your adviser to start developing that plan. But when the time comes to start withdrawing money from RESP accounts to pay for tuition, books and other costs of a post-secondary education, financial advisers say you need a plan for that, too. Depending on how the funds have been invested, there might be some time required to convert those investments to cash, she says. To start withdrawing the cash, the student needs to provide proof of enrolment in a post-secondary program or institution. The money in an RESP account is controlled by the person who set up the account, not the student. (news.financializer.com). As reported in the news.