Henson Trust FAQ
Parents of people with disabilities have been successfully implementing Henson Trusts since 1989. Thousands of people are benefitting from this form of trust and continue to receive ODSP benefits.
What is the Henson Trust or Absolute Discretionary Trust?
In simple terms, a Trust is an arrangement where one person holds and manages assets for another person. With the Henson Trust, the person (Trustee) who holds and manages the assts has the sole, unfettered discretion in making spending decisions.
How will the Henson Trust help preserve ODSP benefits for my son/daughter?
The funds do not vest in the person with the disability and as a result of this, and a variety of other clauses of the Henson Trust, it is not considered to be a liquid asset under the ODSP regulations. Therefore, it will not affect the entitlement to ODSP benefits.
Who can be the Trustee of the Henson Trust?
Parents will have the responsibility of designating trustees for the Henson Trust in their original trust document i.e. their will; it will be their responsibility to ensure they choose trustees who are familiar with the needs of their son/daughter and will make good decisions about when and how much money to spend from the Trust.
Henson Trust link:
If you wish to learn more about Power of Attorney and Living wills, visit the Attorney General's website.