Who can open a RDSP?
When Beneficiary is a Minor (under age 18 in most provinces) • The legal parents or a guardian and agency legally authorized to act for the minor beneficiary may set up a plan and remain holders of the plan when the beneficiary becomes an adult. • The beneficiary may become a co-holder of the plan upon turning 18 years of age. When Beneficiary is an Adult (18 or older in most provinces) • If a beneficiary is legally competent to manage property, then he/she must be the holder of the plan. • If a beneficiary is not legally competent to manage property, the holder of a plan must be the beneficiary’s legal representative or the Public Guardian and Trustee.
