Inter Vivos and Testamentary Trusts
Thursday, October 30th, 2008 Posted in Estate Law, Henson Trusts | Comments OffMany families have members (of all ages) who require assistance in handling their daily financial affairs, regardless of their other abilities. Beneficiaries often benefit from guidance in handling larger sums of money or significant assets, temporarily or ...
Henson Trusts - What will happen to my child after I am gone?
Thursday, October 30th, 2008 Posted in Estate Law, Henson Trusts, ODSP Benefits | Comments OffA responsible parent will have a Henson Trust in their Will for the benefit of their child with a disability. This question causes great concern for many families. But as you are aware, there is an extra-ordinary problem for parents whose ...
What is the ‘disability tax credit’? I know some parents save on taxes by using this tax credit and others have never heard of it.
Thursday, October 30th, 2008 Posted in Estate Law, ODSP Benefits, Tax Law | Comments OffThis tax credit is available whenever a child of any age is markedly restricted in the activities of daily living on an on-going basis. The restrictions can be cognitive, developmental, physical or mental, or a combination of disabilities. This tax credit ...
I’ve heard about the ‘caregiver credit’ used by some families to reduce taxes. When does this apply?
Thursday, October 30th, 2008 Posted in Estate Law, ODSP Benefits, Tax Law | Comments OffIf a child is over 18 years of age, on ODSP, and resides full time or substantially all of the time with the parent or other family member, then the family member qualifies as a care-giver of that child. They ...
Why do some people receiving Ontario provincial disability benefits receive $750 each month while others receive $979?
Thursday, October 30th, 2008 Posted in Estate Law, ODSP Benefits, Tax Law | Comments OffThe $750 amount is the 'room and board' allowance. If a child lives with the parent they will automatically be slotted into this amount. The $979 amount is composed of $436 for shelter/rent and $543 for supplementary ...
