ODSP – Ontario Disability Support Program


ODSP & Inheritance

Your eligibility for ODSP is heavily dependent on your financial circumstances, including your net worth. If the sum total of your assets exceeds $40,000*, your ODSP eligibility is easily jeopardized. An inheritance can easily push you beyond the $40,000 asset limit all on its own. Unless your inheritance is large enough, maintaining your ODSP eligibility is critical. In most cases, you have options, so you don’t have to choose between spending your inheritance or giving up your ODSP benefits.

The point of your inheritance is to enhance what you receive from ODSP…not replace it.

A single person without children living on their own can expect to receive approximately $1,168.27 a month as a recipient of the Ontario Disability Support Program. Not a lot of money when you consider the cost of living.

Maintaining a reasonable standard of living on this amount alone is next to impossible.

When ODSP is not enough

People on ODSP and their parents are constantly looking for ways to supplement ODSP benefits, but they have to concern themselves with the very restrictive asset rules. Most people understand that you are not allowed to have more than $40,000 in assets to qualify for ODSP. If you have more than that, you can lose your ODSP.

But there are exceptions. There are a number of ways to save money beyond the $40,000 limit without jeopardizing ODSP benefits.

My knowledge of ODSP has helped clients with the following:

  • Restructuring assets in order to qualify for or maintain ODSP benefits
  • Save money for the long-term
  • Estate planning for parents who have children on ODSP

For a more detailed explanation of how to plan when you or your child is on ODSP, see these posts:

Who Qualifies for ODSP?

The Ontario disability support program provides income and health benefits to adults with disabilities In financial need. Whether you qualify for ODSP or not depends on have the nature and severity of your disability and your financial circumstances.

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ODSP and Asset Limits

ODSP Asset Limits

ODSP is comprised of a myriad of financial rules, limits, and restrictions. Rules that have been created and modified over many years.  At the same time, exceptions to those rules were developed.  Those aware of the rules but not the exceptions easily assume ODSP benefits are beyond their reach., when that is often not be the case.

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