Ontario - Canada
My mentally challenged sister has been named a beneficiary of her father's estate - not left in trust. Although the amounts have yet to be totalled, it appears that it will exceed the $5000 limit that she is allowed to have without it affecting her disablity pension. She does live independantly with a social worker that oversees her on a weekly basis, but certainly would not have the capacity to handle a substantial amount of money & could easliy be taken advantage of. What, if anything, could I do to a) make sure no one talks her into "loaning" them money or "investing" with them b) could we buy her a little house to live in & it be in her name c) not have her monthly pension payments interrupted and give her a little of the inheritance at a time. Any suggestions or advice would be greatly appreciated.
My mentally challenged sister has been named a beneficiary of her father's estate - not left in trust. Although the amounts have yet to be totalled, it appears that it will exceed the $5000 limit that she is allowed to have without it affecting her disablity pension. She does live independantly with a social worker that oversees her on a weekly basis, but certainly would not have the capacity to handle a substantial amount of money & could easliy be taken advantage of. What, if anything, could I do to a) make sure no one talks her into "loaning" them money or "investing" with them b) could we buy her a little house to live in & it be in her name c) not have her monthly pension payments interrupted and give her a little of the inheritance at a time. Any suggestions or advice would be greatly appreciated.
