RDSP

The Henson Trust Has Its Limits

The Henson Trust Has Its Limits If your son or daughter is on ODSP (Ontario Disability Support Program), there is only so much money they can receive from other sources before their ODSP benefits are jeopardized. That includes money withdrawn from a Henson Trust. There is no limit to the amount of...

Is a Will Really Worth the Cost?

Is a Will Really Worth the Cost? Whether you have a child with a disability or not, the simple answer in almost all situations is yes. Retaining a lawyer to draft a proper will does cost. Many of my clients have paid in the neighbourhood of $1,500 to $2,500 for powers of attorney and a will that...

What You Need to Know About ODSP

What You Need to Know About ODSP Understanding ODSP is a job in itself.  People do not know where to start. It’s a daunting task, trying to figure out which aspects to focus on.  There are well over a 100 policies providing hundreds of pages of reading.  Sound like fun?  You can access them on-line,...

Financial Basics When You Have a Disability

Financial Basics When You Have a Disability People with disabilities often live on a tight budget.  For those that do, here are some points to help manage your financial health and long-term savings: Apply for the Disability Tax Credit. If you qualify, it can reduce the amount of income tax for you or somebody...

RDSP: When the Gov Contributions Don’t Come

RDSP: When the Gov Contributions Don’t Come Simply because you make a contribution to an RDSP account, does not mean you will get the government contributions you expect. RDSP accounts are complex and the government doesn’t make it easy for you.  There are a number of reasons why expected government...