henson trust

[patriciadusanko]

 

Hello all

Does anyone have a ball park figure of how much it would cost to set up a Henson Trust

is it in the hundreds of dollars or a thousand or more???

I have been doing research on the Henson and non Henson trust

I understand that with a non Henson trust the cost could be taken out of the estate

but how about if you wanted to set up a Henson trust right now

some feedback would be greatly appreciated

 

thanks

 

-

---

No virus found in this incoming message.
Checked by AVG - http://www.avg.com
Version: 8.0.176 / Virus Database: 270.10.4/1880 - Release Date: 1/7/2009 8:49 AM

[jbkeh]

A "Henson" trust is no different from any other trust with the
exception that it must be provided and established by the bequestor
prior to their death as part of their will. You cannot set up a
"Henson" trust for yourself.

Found this video (I'm neither recommending nor panning this guy) that
may be helpful, if you have a couple hours:

http://mediasite.otn.ca/Mediasite41/Viewer/Viewers/ViewerVideoOnly.aspx?mode=Default&peid=fe93afb0-8c58-44c4-9a02-3e6ed140d6de&playerType=WM64Lite&mode=Default&shouldResize=true&pid=cb43d2da-d692-4c83-beaf-2bd64fdc2864&playerType=WM64Lite&overridePort25PluginInstall=true

[Scott]

Hi, I believe all people on ODSP should make themselves aware of just
what a HENSON TRUST set-up is and how it can benefit you sooner or
later.

Here is an online Disability Magazine link, which includes detailed
articles on the Henson Trust Benefits. I might add, ODSP informed me
that not having it mentioned in a monetary Will from others with you
as the benefactor really changes ODSP eligibility.

Magazine: http://www.enablelink.org/abilities.html

Hensen Trust, Article: http://www.enablelink.org/include/article.php?pid=&cid=&subid=&aid=1466

Regards,
Scott

[jacqueline dorssers]

I just set up a hansen trust through my laywer for my adult child and the cost was 350.00 that included a new will and trust set up .

FYI
Jackie Dorssers

--
Jackie Dorssers BSW RSW
Chatham-Kent
519-350-4617
"if its meant to be.. its up to me"

[patriciadusanko]

Thank you all for the information!!

 

Version: 8.0.176 / Virus Database: 270.10.5/1885 - Release Date: 1/9/2009 7:59 PM

[patriciadusanko]

Hi Scott
thanks for the link to the magazine ,,
Could you elaborate a bit more on what the odsp worker told you regarding
the Henson trust and if one is not set up for you
I understand that if the inheritance is less than 100.000 an in heritance
trust or non Henson trust can be set up after the death of
the person your receiving the inheritance from

thanks Patricia

--------------------------------------------------------------------------------

No virus found in this incoming message.
Checked by AVG - http://www.avg.com

[Scott]

Hi Patricia,

Yes, I agree. Here's a link to what I call the "Bible" of ODSP v.
Inheritance Trust & Henson discretionary Trust stuff:
PDF LINK: http://www.reena.org/pdfs/hensontrust.pdf
Bye for now,
Scott

---

> ---------------------------------------------------------------------------­-----

>
> No virus found in this incoming message.

> Checked by AVG -http://www.avg.com

> Version: 8.0.176 / Virus Database: 270.10.5/1885 - Release Date: 1/9/2009

> 7:59 PM- Hide quoted text -
>
> - Show quoted text -

[Graeme Treeby]

Hello folks.

People who are able to manage their own financial affairs would be better
off to set up a Segregated Fund to hold their inheritance of less than
$100,000. If you were to set up a trust, you must give up control of your
inheritance to a trustee and that may not be the best thing to do.

Cheers...Graeme

[mister]

Talk to this guy www.kpopelaw.ca ,via email or 800 number,it's his
whole practice.
Be prepared for highly confusing legalese.

[Cindy S-C]

graeme, so if the money is going to be less than $100,000.00 my mother
does not have to see her lawyer to set up a henson trust? i can
manage my own financial affairs. the only thing is, obviously, i do
not want to go off disability for whatever length of time disability
would deem me off for, due to an inheritance of i believe around
$30,000.00. i placed a call to my mother yesterday to ask her if she
could call her lawyer about setting up the trust, how much it would
cost my mom to have her will revised, and it's all quite overwhelming
for an 80 year old woman.

On Jan 13, 11:22 am, "Graeme Treeby" <graemetre...@sympatico.ca>
wrote:

[Cindy S-C]

scott, wow, thank-you for that link. i read all through it and i know
that my inheritance will be less than $100,000.00. again, does that
mean my mother does not have to set-up a henson, that i can still
inherit say $30,000.00? can i place that in a trust for myself and
draw as i would from a henson? or does mom just have to put a
different trust in her will? even though the link information was
certainly very clear, it's all still rather confusing. many thanks.

[patriciadusanko]

cindy a inheritance trust or non Henson trust can be set up after the death
of your mother
and a trustee can be appointed for you and you can draw 5,000,00 a year from
it
but under the guidelines of ODSP
I just finished consulting with a lawyer and the cost of a Henson trust is
about 2 000 to get set up
is not cheap
I told him my inheritance is as of right not below 100.000 so an inheritance

trust can be set up

I and my brother will inherit a home and the sale of the money from the home
can then be put into a trust for me
there is lots of info on inheritance trusts and the guidelines

----- Original Message -----
From: "Cindy S-C" <cin...@yahoo.ca>
To: "ODSP Fireside" <odspfi...@googlegroups.com>

--------------------------------------------------------------------------------

No virus found in this incoming message.

Checked by AVG - http://www.avg.com
Version: 8.0.176 / Virus Database: 270.10.7/1892 - Release Date: 1/13/2009
8:04 PM

[mister]

On Jan 14, 9:50 am, Cindy S-C <cin4...@yahoo.ca> wrote:
> scott, wow, thank-you for that link.  i read all through it and i know
> that my inheritance will be less than $100,000.00.  again, does that
> mean my mother does not have to set-up a henson, that i can still
> inherit say $30,000.00?  can i place that in a trust for myself and
> draw as i would from a henson?  or does mom just have to put a
> different trust in her will?

A Henson Trust has to be specified in your mother's will otherwise you
will have to
use an ODSP Trust .No matter how much money is involved or what kind
of Trust
you set up a lawyer must do it.Believe me if the information here is a
bit confusing just wait until you talk to a lawyer!!Then you'll be
really confused.

[Frank]

>>>would be better off to set up a Segregated Fund<<<

 

Wee bit more info please.

Take care,
Frank.
_________________________________________________

When guns are outlawed, only outlaws will have guns.

---

Ask a question on any topic and get answers from real people. Go to Yahoo! Answers.

[Frank]

>>>Be prepared for highly confusing legalese.<<<

 

If that's situation, why bother?

Take care,
Frank.
_________________________________________________

When guns are outlawed, only outlaws will have guns.

---

Be smarter than spam. See how smart SpamGuard is at giving junk email the boot with the All-new Yahoo! Mail

[Frank]

>>>and it's all quite overwhelming for an 80 year old woman.<<<

 

If you live nearby, go with her to the Lawyer. I did with mine.

Take care,
Frank.
_________________________________________________

When guns are outlawed, only outlaws will have guns.

---

Looking for the perfect gift? Give the gift of Flickr!

[Scott]

I think we are discussing two different set of Inheritance
circumstances.
One being Inheritance below or above 100.000.00 CDN, and/or
The other being an Inheritance of a home, which if it is to be used to
live
in may need to be under a discretionary Henson Trust set-up, So, you
can
or will qualify to claim rent against ODSP each month, I beginning to
believe
w/out the HT set-up for a home, one may not receive or be able to
claim the
monthly rent allowance from ODSP.
Scott

[Graeme Treeby]

I would love to respond more fully to the options of the Segregated Funds.
However, today, my schedule will not allow. I'll try to respond Friday.

Cheers...Graeme
----- Original Message -----
From: "Cindy S-C" <cin...@yahoo.ca>
To: "ODSP Fireside" <odspfi...@googlegroups.com>