ODSP and RDSP question

by kathy isaac
(mississauga ontario)


My daughter just turned 18 and there is an existing rdsp in my name. Do I add her name to it as primary owner or should it be in her name only?

She is able to make decisions with assistance. There is a Henson Trust set for her. We want to take advantage of the extra government grant upon turning 18.

Also, she is now receiving odsp payments monthly...can she use a portion of that money to make monthly contributions to her rdsp...the first $1500 to take advantage of bonds and grants.

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by: Marla Vineberg


I work for a financial advisor who specializes in special needs planning and he would be able to answer your question. Our office is in Montreal but he is from Toronto and has clients there. Please contact Nathan Leibowitz at Assante Wealth Management at 54-832-5141 or via email at

Thank you,

Marla Vineberg
Special Needs Planning Workshop Coordinator
Assante Wealth Management

In response to your ODSP and RDSP question
by: Samuel Li

Hi Kathy, I'm a financial consultant serving in
Ontario. In regards to your account holder question, below is what I found from the CRA website.

"If the beneficiary has reached the age of majority and is legally able to enter into a contract, then an RDSP can be established for such a beneficiary by the beneficiary and/or the legal parent who is, at the time the plan is established, a holder of a pre-existing RDSP of the beneficiary."

About the RDSP grants and bonds, that would be depended if she is qualified for the disability tax credit and the family net income. (Note beneficiary over the age of majority, the family net income is that of the beneficiary and his or her spouse, if applicable.)

From what I know, ODSP has restriction on the amount of asset. However, RDSP is excluded and I haven't heard anything about if they have placed any restriction on how the ODSP payments will be used.

Anyway, hope this would help. If you need any further assistance, feel free to contact me.

Best regards,

Samuel Li
Mobile: 647-294-0702

Disclaimer: This post should be used for informational purposes only and should not replace the advice of a financial professional.

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