met with a trustee last week. We spent about an hour talking about a bankruptcy. I think I understand the process, but what I don’t understand is my daughter’s RESP. If I understand things right my daughter looses her RESP’s if I have to file a bankruptcy. This doesn’t make sense to me. This money is not mine, it came from her Child Tax Benefit cheques. I have taken all this money since she was born and set it aside for her education, it is the only good financial choice I have made. She is now 15 years old, and I think we have about $15,000 in there. How can she loose that moneyh? This is set aside for her to go to university and without it she might not be able to afford to go to school after grade 12.
Is this right? Do I understand things or did I just misunderstand things?