When An Equal Share Isn't Fair
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When An Equal Share Isn't Fair
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When parents divide their estate equally between their children, it usually feels like the fairest decision they’ll make. But if one of those children receives provincial disability benefits, an equal share left to them directly can put their monthly benefit and their health coverage at risk.
In this week's episode, I talk about why that happens and how parents and grandparents can leave a child on disability benefits the same share as their siblings without putting that support at risk. If you’ve heard the term Henson trust and wondered whether it applies to your family, this is a good place to start.
I also talk about a decision many families make without a second thought, and why it may matter more than anything else in the plan.
Because every province and territory runs its own disability program with its own rules, I share the questions worth asking a lawyer wherever your child lives.
Read the full article: https://nexsteps.ca/estate-planning/henson-trust/
Disclaimer: This content is for general information only and is not legal, financial, medical, or tax advice.