Nahanni Akroyd

Gifts for grandchildren

Do you want to give money to your grandchildren while you’re still alive? There are many ways you can give money while bypassing your will.

Grandparents can set up Registered Education Savings Plans (RESPs) to help fund a beneficiary’s post-secondary education.

The federal government may match up to 20 per cent of your gift, within guidelines.

Whole life insurance is another great gift. It’s often set up with the intention that the insured grandchild can access some or part of the cash value at a later date – to fund education, a mortgage down payment or as collateral for a loan.

Curious about financial gifts for your grandchildren? I can help.