Are you concerned about losing your ODSP benefits due to an inheritance? Our firm has been assisting clients for over 40 years and we're experts in protecting assets, ODSP income and RGI housing.
The rules about income and assets apply to you and to each family member that ODSP considers to be part of your benefit unit.
To qualify for ODSP income support you cannot have income or assets above a certain level. To qualify for ODSP income support as a single person, you cannot have more than $40,000 in liquid assets. Our office can assist with exempting assets above this limit.
ODSP rules are complicated. It is important to seek legal advice.
There are various ways that an inheritance could be handled to ensure that someone on ODSP would be allowed to keep an inheritance. It is very important that each individual be assessed to determine what the best choice for them would be to protect inherited funds. It is equally important to safely invest exempted funds and plan for the present and future needs of people with disabilities and special needs.
For more information, request a consultation and we will get back to you with more detail.