How RDSPs Work: A Step by Step Guide for Families | Sh. Navaid Aziz

Description

Are you looking for a way to secure the financial future of a loved one with a disability while staying true to your values? This comprehensive masterclass provides a step by step guide to understanding Registered Disability Savings Plans (RDSPs) and the Disability Tax Credit (DTC) in Canada. Learn how to navigate the complex application process and maximize government benefits to provide long term security for your family. 🌟 In this session, Hash Asad from Asad Wealth Management is joined by Sheikh Navid Aziz and Sean Alam from Mohsin to discuss the intersection of faith, community support, and financial planning. We cover everything from the Islamic perspective on disability to the technical details of government grants and bonds. You will discover how the DTC works, the importance of the ten year rule, and why starting early can make a million dollar difference in your loved ones future. 📈 Key topics include: ✨ Qualifying for the Disability Tax Credit (DTC) ✨ Maximizing the Canada Disability Savings Grant and Bond ✨ Strategies for Halal investing within an RDSP ✨ Essential estate planning including Wills and Hansen Trusts ✨ Avoiding common pitfalls in beneficiary designations Chapters: 0:00 Intro and Presentation Agenda 4:15 Meet the Asad Wealth Management Team 8:30 Sheikh Navid Aziz: The Compassionate Prophet 13:00 Islamic Perspective on Disability and Trials 17:45 The Importance of Community Inclusion 22:15 Introduction to Mohsin Support Services 27:00 Financial Challenges for Families 31:45 Explaining the Disability Tax Credit (DTC) 36:30 How to Complete Form T2201 41:00 Retroactive Claims and Tax Refunds 45:45 RDSP Fundamentals and Contribution Limits 50:15 Understanding Government Matching Grants 55:00 How the Disability Savings Bond Works 1:00:00 Case Study: Tom vs. Brian vs. Leo 1:04:30 The Importance of Starting Early 1:09:15 The Ten Year Rule and Clawbacks 1:14:00 Estate Planning and Hansen Trusts 1:18:45 Power of Attorney and Personal Directives 1:23:30 Q&A and Final Closing Thoughts 1:27:57 Video