A Savings Plan Outcome

 

An individual’s ODSP application was denied because her assets exceeded the liquid asset limit. Her assets were deposited into a segregated fund policy in her name and LifeTRUST Planning filed a detailed request to exempt her funds with the local ODSP office. The ODSP office acknowledged the policy as an exempt asset and her ODSP application was accepted and she began receiving the maximum ODSP benefit. She also received back payments from the month that she had applied and the funds in her policy continue to grow. To learn more about how to exempt assets in excess of the asset limit, contact us!

John B
Guelph, Ontario, Canada

The LifeTRUST Plan has eased my mind from the terrible burden of “what will happen to my son when I’m gone? Who will support him? Will he have those “extra’s I’ve seen to while I was here” The program is simple. My son will receive through a trustee of my choosing whatever he needs at regular intervals, not to exceed the government cap. The fund will supplement whatever benefits he receives from the government. That is what life insurance is all about. I not only support it but promote it to anyone who cares about what happens to their children when they are gone. “You’re in good hands with LifeTRUST Planning, and a good lawyer to set up the trust. 
Don And Janet F
Burlington, Ontario Canada

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.

Life TRUST Planning has helped ALL Canadians who have a disability:

 

  • Cited as the #1 organization consulted on the “New Beginnings” Report of the Minister of Finance’s Expert Panel on Financial Security for Children with Severe Disabilities. December 2006           

 

  • Submitted reports to Low Murchisson Commission formed for the development of the Registered Disability Savings Plan.

 

  • Formed “Citizens to Restore Tax Credits for People with Disabilities” to ask the government to restore the Disability tax credits for the years 1985 to 1996. On December 31st 2004 backfiling privileges for these years was removed from People with Disabilities with very little advance warning. An estimated $3 billion was lost to families with this action that was never clearly identified to families of people with disabilities.
     

  • Was instrumental in getting Segregated Funds recognized as Life Insurance policies by the Ontario government. This permits People with Disabilities to save money without losing their ODSP benefits. A brief was submitted to the Director of ODSP for Ontario, when the Minister of Community and Social Services was John Baird, who supported this initiative. This is now recognized in regulations Directive 4.8 and is now on the Ministry web site under internal staff directives, ODSP handbook.

 

  • Instrumental in developing an alternative to Henson Trusts for protecting the long-term financial security of People with Disabilities. Segregated Funds are less expensive and easier to set up, do not require a trustee, and require no annual tax filings or financial reporting.

 

  • Initiated the key steps in getting ODSP offices to not deduct Life Insurance dividends from ODSP cheques. This was supported by Frank Klees, MPP, & John Baird Minister of MCSS
     

  • Made submissions to the federal government’s Technical Advisory Committee for People with Disabilities. 

 

  • Advocated that the jobs for the new 311 government information service be telework jobs, accessible for People with Disabilities.  Presentations were made to the Newmarket Town Council and the City of Toronto 311 public hearings.  “311 these jobs are our jobs”, jobs for People with Disabilities.

  • Supports York Region alliance to end homelessness and has made deputations to the “Streets to Homes” program in Toronto. Conducts free educational seminars for public education on financial planning for People with Disabilities.

 

  • Raised objections to Shelter Allowance request delays at ODSP offices. MPP Frank Klees read a letter from LifeTRUST Planning into the parliamentary record. People with disabilities deserve better service to prevent delays in processing.  The Minister agreed to investigate delays.

  •  Is recognized  as advocates for People with Disabilities by the National Post, Toronto Star, Toronto Sun, Abilities magazine, Exceptional Families magazine, Investors guidebook, TD Canada Trust, & Mutual Fund magazine. These are all unfunded advocacy and appeals for which we receive no money. 

CREATED BY DPK DESIGN 2017

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"A planning guide that explains the Four Essential Cornerstones of a LifePLAN that will secure the future care and quality of life of your child with a liability, after you've gone!."

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