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When something happens to a supporting parent,
will their dependent person's care, housing, and education needs be fully funded for the rest of their life? Whether set up now or later, a Henson trust lets parents provide for their disability needs well beyond government disability benefits. Many parents choose life insurance as an affordable way to strengthen the Henson trust, giving them peace of mind that their dependent son or daughter will be provided for, no matter what. A brief history of the Henson trust In the 1980s, Leonard Henson created a trust in his will for his disabled daughter, Audrey Henson. The trustee had complete discretion on the timing and amount of any payments to Audrey. The Ontario government tried to disqualify Audrey Henson from receiving her provincial disability benefits because of the money left to her in the trust. The Court of Appeal ruled in her favour, as it determined that the trust assets did not belong to Audrey and she had no right to demand anything from the trust. Given this finding, Audrey could still collect government disability benefits while funds contributed to the trust could be used to meet her needs to a higher level. Note: Now known as a Henson trust, a trust for a disabled person can be formed either during the settlors life time (inter vivos), or upon the settlor’s passing through their will (testamentary). |
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Protect Your Child
A trustee manages the Henson trust to meet the disabled person's needs for care, housing, and education over their lifetime. Preserve Benefits A Henson trust lets parents provide additional funds for their disabled child's needs throughout their lifetime while keeping their full government disability benefits intact. Fund the Trust When the time comes, the Henson trust, named as beneficiary of the life insurance policy, receives the death benefit right away, adding funding for their dependent's care, housing, and education that lasts well beyond their parents' lifetimes |
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Affordable
A cost-effective way to inject funding into the Henson trust after the parents are gone. Timely Money reaches the Henson trust quickly, without waiting on the courts. No probate or will-contestation delays. Private Funding A personally-owned life insurance policy can remain confidential to the policy owner and the beneficiary. Please contact an estate lawyer for further legal advice. |