Is there anything that parents with children on Ontario Disability Support Program should know?
Yes, If a child who relies on ODSP payments receives a windfall of money and or asset such as an inheritance, it could disqualify them from being eligible for ODSP. The reason being in order to qualify for the program, one cannot have assets exceeding the limit set out by the government.
So, what’s the solution?
One option is something called the Henson trust, this is an absolute discretionary trust meaning that distribution from the trust is at the sole discretion of the trustee. The interesting part is that since legal ownership of these assets lie with the trustee, the beneficiary is not considered to own assets for the purposes of determining eligibility for ODSP, so this is a mechanism that renders assets invisible from ODSP eligibility determination for as long as the trust continues.
