WebIn a nutshell, grandparents can pitch in for their grandchildren's education in two ways: by contributing to their own RESP or by offering money to the parents who already have an RESP for their child. Can an aunt contribute to an RESP? You can open an RESP for any child, be it your own, a niece or nephew, grandchild or even a family friend. WebApr 15, 2024 · Extrapolating from there, an aunt-nephew baby would have an inbreeding coefficient of one-eighth, meaning reproduction would carry double the genetic risk compared with a cousin-cousin baby. Not ...
How to Set Up an Investment Account for My Niece Who Is a Minor - The Nest
WebApr 12, 2011 · Aunts and uncles can foster a special family bond with nieces and nephews. But regardless of whether you've got kids, these are the kinds of roles that aunts and uncles can play: • The "Cool" Adult. You have different life experiences than your nieces and nephews' parents, which makes you cool right off the bat. WebHere are some things to know: Tax deductions for college contributions (offered by 529 plans) are generally only available to account owners. Money that's in an account owned by the parents or child will be taken into consideration by financial aid formulas. But money you (as the grandparent, aunt, uncle, or friend) put away in your own account ... black bay harrods
Can an aunt set up a trust fund for their niece or nephew?
WebAnyone can open an RESP for a child. RESPs can be opened by one person, or you can open a joint account with a spouse or common-law partner. Please note, we will require … WebEach company has its own rules and application process, but a few things remain constant. For example, if you open a custodial investment account for your minor niece, she is the primary account holder. You have to provide her Social Security number to open the account. You can act as the account custodian, but you don't have to. http://savvyauntie.com/expertisedetails.aspx?id=3007&GroupID=546&Name=529%20Plans%20for%20Your%20Nieces%20and%20Nephews blackbay harrod\u0027s special edition