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Wednesday, March 9, 2011

Leaving an Inheritance to someone with a disability: Is a Henson Trust the only option?

The basic problem described by parents or other family members who want to leave funds to a disabled beneficiary is how to do so without causing the beneficiary to be cut off from provincial disability benefits. In this article, Donna Neff, a lawyer in Ontario, discusses the pros and cons of the various strategies people use. Ms. Neff refers to ODSP, the Ontario plan, but each province has its own disability benefits plan, and her comments apply to all.

One item I would add is that in Alberta, Henson trusts are not valid. They are valid everywhere else in Canada, to my knowledge.

Click on the link below to read the article:

Leaving an Inheritance to Someone with a Disability: Is a Henson Trust the Only Option?

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