Disability Planning

Do you suffer from a physical or mental disability? Do you care for someone with a disability? Wyper Law can help you plan for the future, and maximize the government benefits you qualify for.

Trusts

BC ‘s Employment and Assistance legislation provides some income assistance to Persons With Disabilities. However, the amount of assistance is reduced when the person owns substantial assets, has a large amount of money in the bank, or has significant employment income. When a person with a disability receives a windfall, such as an inheritance or a court award, those funds may significantly reduce the government benefit payment.

Trusts are a legal creation that may help avoid this reduction in government benefits when a person with a disability receives a large payment. By introducing a trust, a windfall is held by someone else, for the benefit of the person. The government does not include this amount in its determination of the person’s income, and the windfall does not reduce the government benefits. The money in trust can only be used for the person’s benefit, but expenditures of trust funds on things such as medical aids or caregiver services do not reduce benefit payments.

In general, creating a trust is quite simple. However, there are certain requirements for trusts which are being used for Persons With Disabilities. Wyper Law can help you set up a trust to manage funds which would otherwise reduce disability benefits.

Registered Disability Savings Plans

RDSPs allow a person who qualifies for the Disability Tax Credit to invest in a registered savings plan. The money invested reduces the taxpayer’s income, both for income tax purposes and for the provincial disability benefits. Also, there are grants and bonds which may help the savings grow, without additional contributions from the beneficiary. Each of the major banks can help you set up an RDSP.

Powers of Attorney and Representation Agreements

For many types of degenerative conditions, it is important to establish powers of attorney and representations at a time when the person is still fully capable of making and expressing decisions. These two documents work together during the person’s lifetime, to authorize a trusted friend or family member to make legal, financial or medical decisions on the person’s behalf.

Advance Care Directives

While representation agreements empower someone else to make medical decisions on your behalf, an advance care directive sets out one’s carefully-considered wishes. An advance care directive guides the representative, if one has been appointed, and instructs medical practitioners on what types of care the person consents or does not consent to.

Future Care Planning

In addition to other planning tools, it’s important for a family to consider how care for a person with a disability will be provided in the future, after the primary caregivers are no longer available. Wyper Law can help you develop a plan that ensures care is provided for as long as it is needed.