Can you lose your SSI if you get an inheritance?

Social Security Disability, like Social Security, is not a means tested program. Therefore, your Social Security Disability benefits will not be affected by any change in your assets or your income. Furthermore, receiving an inheritance will not have any effect on your monthly Social Security Disability benefits.

Can someone on SSI inherit a home?

Fortunately, there are two main ways SSI recipients can inherit homes without becoming ineligible. They can either live in the home as their primary residence. Or they can have it placed in a special needs trust.

Inheriting a home can cause an SSI recipient to become ineligible for future benefits. However, that can be avoided if the home is used as the recipient’s primary residence or placed in a special needs trust.

Can a inheritance be considered an inheritance by Social Security?

The Social Security Administration (SSA) considers an inheritance, even if it is never actually distributed to the beneficiary, as a resource for SSI purposes.

Can a SSI beneficiary lose her inheritance?

Luckily, an SSI beneficiary doesn’t have to lose the benefit of her unexpected inheritance. Instead of disclaiming an inheritance, the beneficiary should accept it and then transfer the funds, perfectly legally, to a first-party special needs trust or a pooled special needs trust.

How old do you have to be to inherit money on SSI?

Someone can give you money into a trust, or you can inherit money this way, and it will not affect SSI if the trust is properly written. ABLE Accounts – ABLE accounts can be opened by anyone who first became disabled before age 26. Your age now does not matter.

How to ask questions about SSI and inheritance?

If you have further questions about SSI and inheritance, please contact Lemoine Law firm at 888-468-3741, send a message ; or click the button below to chat online with a representative any time.