LifeTRUST Planning Services
We work within the system, but think outside the box
DISABILITY BENEFITS FOR ADULTS AND CHILDREN IN ONTARIO
Our liaison with the Ministry of community and Social Services (MCSS), Developmental Services Ontario (DSO) and the Ontario government gives us access to the latest developments, legislation and regulations on the Ontario Disability Support Program (ODSP) and other services and benefits for children “Assistance for Children with Severe Disabilities” (ACSD) and adults with a disability. For regulations and legislation Go To “ODSP resource centre”.
REGISTERED DISABILITY SAVINGS PLAN (RDSP)
A Registered Disability Savings Plan” (RDSP) is a federally registered savings plan that helps families save for future financial security of their child with a disability. This tax deferred savings plan offers matching grants and bonds and is exempt from social benefits assets rules. As federally registered Agents of the RDSP we are notified on a weekly and monthly basis on any changes and amendments to the program before advisors receive the updates from their respective issuers. To learn more about the RDSP and get up-to-date info GoTo “Registered Disability Savings Plan centre”.
EDUCATIONAL WORKSHOPS AND SEMINARS
We host many seminars and workshops for families, advisors and professionals providing them with information on what they want and need to know on the essentials of special needs planning. To find the topics, dates and locations Go To “Workshops and seminars”
CONTINUING EDUCATION CREDITS
We provide qualified designated Continuing Education courses for financial Advisors, CFP’s and member’s designations. The course outline, details and dates are on “The Continuing education Centre”
SPECIAL NEEDS “HENSON” TRUSTS
To ensure a person with disabilities inheritance does not jeopardize their assistance income and benefits the funds must be placed in a Special Needs “Henson” Trust is essential. The language in the trust must state that the trustees have the absolute and unfettered discretion on how to spend the money in the trust. Information on What is a trust, the Henson Trust court decision and trust precedents for a Henson Inter Vivos or living trust, a testamentary trust, a life insurance trust, a standalone trust, Power of attorney, letter of intent, wills questionnaire and a simple will.
THE ESSENTIALS OF A FUTURE SPECIAL NEEDS LIFE PLAN
Every family’s needs and desires for their child are different, so it’s important the each family decides what they want for their child’s future needs and what their child can do for themselves. It’s essential that the future financial security of their child after the parents are gone or are no longer able to care for their child includes all of their relatives, grandparents, support workers, association and professional advisors. To find them Go To “Future Life Planning”
THE DISABILITY TAX CREDIT
The Disability Tax Credit (DTC) lets you save income tax and get back taxes you never should have paid. You’ll find step by step instructions and on how to qualify for the DTC. Qualifying for the DTC is essential to apply for Federal government tax benefits and programs such as the Registered Disability Savings Plan, tax free rollover of an RRSP/RRIF, the child disability benefit, the survivor benefit for certain pension plans, the Preferred beneficiary election for trusts, a Qualified Disability Trust and to get back taxes you never should have paid. To learn more about the benefits and tax savings of the DTC Go To “Disability Tax Credit”
SPECIAL NEEDS PLANNING SUPPORT
We have access to a great many experts on Financial and legal matters, provincial and federal government regulations, community based organizations and research and development. There is no need to spend hours searching the internet for special needs planners, advisors, lawyers, associations, government regulations and all that, you’ll find all the information on special needs planning for an individual with special needs right here on our “Professional Directory Resource centre”.