LifeTRUST DISABILITY SAVINGS PLAN
Enhance your child's Future Financial Security today!!
Recipients of the Ontario Disability Support Program (ODSP) can now save of up to $100,000 in a LifeTRUST Disability Savings Plan (LDSP) without losing their entitlement to their ODSP benefits. Under the ODSP regulation [subsection 43(1) 1iv] any amount taken against the plan is exempt if the money is used for disability-related items or services. In addition payments from the plan of up to a maximum of $5,000 for any twelve-month period are also excempt as income. Similar regulations apply in other provinces. Take note: Heirs, beneficiaries of life insurance and others can also use an LDSP as a trust to exempt their assets.
Contact us today and we'll take the time to explain how you can take full advantage of this opportunity to enhance your child's future financial security. Contact us now!!,
AN LDSP OUTCOME RESULT
Parents of a child contacted LifeTRUST Planning because their daughter’s ODSP application had been denied. She had $40,000 in liquid assets which exceeded the $5,000 liquid asset limit. The funds were deposited into a LDSP in their daughter's name and on her behalf LifeTRUST filed a request to exempt her funds. Consequently the funds were recognized as exempt assets and two months later she began receiving the maximum ODSP benefit. In fact, she received back payments from the month that she had applied.(Those funds have now grown to over $60,000) To learn more about our LDSP . CONTACT US
AN LDSP FAMILY RESULT
A financial advisor contacted us on behalf of his married clients both of whom were ODSP recipients. Their ODSP office had deemed that they had funds in excess of the joint liquid asset limit. LifeTRUST Planning created an LDSP, contacted their regional ODSP office, filed the proper documents and their funds were recognized as exempt assets. Their ODSP benefits were reinstated through a letter they received from the regional ODSP office.To establish an LDSP CONTACT US
A “LifeTRUST DISABILITY SAVINGS PLAN” TESTIMONIAL LETTER
We would like to express our appreciation of the work John Dowson LifeTRUST Planning has done for our family. When he, after much detective work, discovered a type of insurance policy which met the needs or our family financial situation and satisfied the requirements of the ODSP act and regulations, we were glad to take advantage of his expertise and purchase a policy on behalf of our daughter. Mr. Dowson's expertise would make him a valuable resourse to individuals or organizations seeking guidance in this often complex area.
Don and Janet F
Burlington Ontario Canada CONTACT US
LifeTRUST Planning has helped many ODSP recipients shelter funds in excess of $5,000 without jeopardizing their entitlement to ODSP. Contact us for details.
ODSP recipients have over 1.2 million dollars in savings and retain their disability benefits !!!
Sign up for our newsletter and updates, it's Free: CLICK HERE
The best kind of pride is that which compels a person to do their best even when no one is looking