Dave Chilton

I said, leave a brochure about RESPs on the table in your living room.

And when your parents ask about, oh, what's that all about?

You say, oh, I thought you asked for that for the kids' education.

It must have been the in-laws.

Not only do you plant the seed, but you raise the competitiveness.

And I've had many people tell me that they read The Wealthy Barber Returns and actually pulled that trick to try to get grandparents involved.

Grandparent involvement here is crucial in these high-cost times.

Do you not see a lot of them are really stepping up to the plate and helping out?

No, you're making a lot of good points.

Now, can you go back to something?

Aravind, your friend was on our show and talked a little bit about the estate planning approach you have to take when grandparents get involved and why giving the money to the parents makes so much sense.

Just walk people through that little more detail.

To be honest with you, I've done a horrible job of that.

So I've talked a lot about RESPs on stage, including some of the subtleties, but I've never brought that up.

And I actually think it's quite an important point.

Yeah, no, that all makes perfect sense.

And again, I don't think I've done a good job of shining a light on that because it comes up a lot.

And of course, logically, the grandparents often will die before the beneficiary has moved on to school.

I mean, it makes perfect sense from an age perspective.

So I'm glad that you're bringing that up.