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RESP family vs. individual plan.

12011 Views 4 Replies 4 Participants Last post by  moneyconcepts
Just had our second child. We've had an RESP for the oldest since birth. Can anyone comment on whether we should convert the existing plan to a family plan or create a 2nd individual plan. Not sure if there are advantages to either that make a difference.

Either way we will be contributing $5k/year to get the maximum grant.
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The way we have set up is one family RESP for each child with a main beneficiaries and other siblings also listed as beneficiaries.
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