The Handy Network
HandyTax provides a very specialized financial service and while it is good, we cannot address all financial matters that challenge families and their support networks. Therefore, HandyTax has put together a referral network of individuals who can help HandyTax clients deal with their unique issues.
HandyTax currently refers clients to:
1) Insurance Advisors: Protecting the standard of living for vulnerable loved ones.
2) Wills and Estate advisors: Ensuring money and resources are used in the way you want them to be after you are gone.
3) Debt Specialists: Helping you manage your debt and possibly reducing it.
4) Financial Security advisors: Helping you access Government Grants and Bonds in a registered disability savings plans, setting up educational savings plans and retirement savings plans.
Why Open a Registered Disability Savings Plan
Why use HandyTax’s approved financial advisors?
HandyTax is Canada’s premier Disability Tax Credit specialists . Individuals who are already approved for the Disability Tax Credit can have their previous tax returns examined to ensure the maximum amount has been received. This service is offered completely free of charge even if HandyTax does recover a refund. In the event of an individual losing eligibility for the Disability Tax Credit while maintaining an RDSP with one of our partnered advisor’s our experienced staff will immediately begin the process of re-gaining eligibility.
A financial advisor partnered with HandyTax offers unparalleled expertise in the RDSP. Our partnered advisor’s make certain to retroactively collect any government bonds or grants you may be entitled to receive. Expect to receive exceptional personal service paired with a team of knowledgable staff. By choosing a HandyTax approved financial advisor the financial products offered will far exceed that of a bank. HandyTax’s approved financial advisors are independent and can offer many investment and insurance related products not available from standard institutions, meaning you get the best product for your need.
HandyTax’s approved financial advisors are compensated in two main ways:
1) Referral business, approved advisors are compensated by getting referral by current satisfied clients
2) Mutual fund companies and insurance companies compensate agents directly, therefore at no time, will HandyTax’s approved financial advisors charge fees directly to you.
Call our referral service to open a RDSP
Learn about whether a Registered Disability Savings Plan (RDSP) is right for you. You may be able to get access to up to $70,000 in Canada Disability Savings Grants (CDSG) in your lifetime. You may also be eligible for $20,000 in Canada Disability Savings Bonds (CDSB) in your lifetime. Subject to a lifetime maximum Registered Disability Savings Plan (RDSP) balance of $200,000. The actual amount of Government Grant and Government Bond will depend. The HRSDC will look at the amount you put into the plan and the beneficiary’s net family income.
The Purpose of the RDSP
The Registered Disability Savings Plan (RDSP) is intended to help disabled Canadians plan for their retirement. The Plan can technically be opened after the age of 49. However, after 49, you will no longer be eligible for the grants and bonds. The primary limitation of the The Registered Disability Savings Plan (RDSP) is that the fund cannot be touched until the year the beneficiary turns 60 years old. Also after the age of 60, there are rules about the timing and amount that can be withdrawn. Withdrawls after the age of 60 are called : Disability Assistance Payment (DAP) and a Lifetime Disability assistance payments (LDAP). Ultimately the RDSP is a great tool for retirement but it will not be useful to you to use in meeting your current short-term expenses. HandyTax cannot setup the RDSP for you, instead HandyTax will refer you to a qualified financial advisor. There is no fee for HandyTax to refer you to a Licensed Advisor.
Criteria for opening an Registered Disability Savings Plan:
1) Under the Age of 49 ( to be eligible for the Government Grants and bonds)
2) Have a valid Disability Tax Credit Certificate (DTC)
3) Be a Canadian Resident with a valid Social Insurance Number
4) More details on the RDSP are available through the HRSDC http://www.esdc.gc.ca/eng/disability/savings/index.shtml