Other ways to save for your child's educationIf you're looking for alternatives to an RESP, you
may wish to consider other savings options to provide additional
flexibility and growth potential. (Government grants do not apply.)
Choose from: In Trust AccountsA simple way to save for future education costs is
to open a regular (non-registered) investment account as an
"in trust" account. We recommend that you consult
with your lawyer or tax advisor before setting up an "in
trust" account to ensure it meets your needs and
objectives. Two features of an "in trust"
account can make it an excellent savings vehicle for a child's
education: - Unlike RESPs, there are no restrictions on the amount you can
contribute
- Also, unlike RESPs, if the child does not pursue post-secondary
education, the child may use the money for another purpose
Family TrustsA family trust is a trust arrangement typically
established by a formal trust agreement drafted by a lawyer.
Although certain preferential tax treatment for such trusts has
been eliminated in recent years, some advantages still remain and
you may wish to discuss this option with a legal or tax
advisor. | 
