PLANNING FOR DISABLED BENEFICIARIES – HENSON TRUST
Ontario has a wonderful regime to support residents who are disabled. This includes income support as well as many other benefits and services. However, the ODSP (Ontario Disability Support Program) is not available if you have assets that exceed $40,000. If your die without a will or you have not considered this in your estate planning, your beneficiary will most likely lose these benefits. To prevent this, certain assets get earmarked in the will- but must not vest – for your disabled beneficiary. Their inheritance can be paid out bit-by-bit to purchase things to improve their quality of life without ruining their ODSP benefits.