I'm 62 collecting SSI . I am due to inherit money , how can I keep it as I am not employable due to disabilities

and if I do get bounced off SSI the amt of money would last possibly 1 year due to my medical expenses Are there other areas to explore as far as creatively keeping the cash

Lake Ariel, PA -

Attorney Answers (3)

Paula Brown Sinclair

Paula Brown Sinclair

Social Security Lawyers - Twin Falls, ID
Answered

In addition to the ides offered by Mr Lutkenhaus, you would benefit from a consultation with an elder law attorney in your area regarding the possibility that a special needs trust will protect your inheritance for you use without disrupting your monthly SSI benefits. With such a trust SSI beneficiaries can enjoy the benefit (though not the ownership) of liquid assets in excess of $2,000.

Best wishes for a favorable outcome, and please remember to designate a best answer.

This answer is offered as a public service for general information only and may not be relied upon as legal advice.
Gerald Gregory Lutkenhaus

Gerald Gregory Lutkenhaus

Social Security Lawyers - Richmond, VA
Answered

SSI is welfare disability and is means tested. This normally means you cannot have more than $2,000 in liquid assets. If you do you will be disqualified until that amount is spent for reasonable expenses that lower your asset level below $2,000.00. Perhaps you could spend it down for exempt assets such as one car.

This response is meant to be information only and should not be considered to be legal advice. This information is... more
Clifford Michael Farrell

Clifford Michael Farrell

Social Security Lawyers - Columbus, OH
Answered

The amountou can have and the amount you can spend are fairly tightly regulated. There are also other effets of the inheritance - losing medical eligibility too, for one example.

Talk to an elder law lawyer. Depending on the amount involved, a special needs trust may help - or declining the inheritance may be a possibility too

Best of luck to you!

The exact answers to questions like this require more information than presented. The answer(s) provided should... more

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