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1. smartasset.com › financial-advisor › ssi-and-inheritanceWill My Inheritance Affect My SSI Benefits? - SmartAsset

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   Receiving an inheritance can shrink or eliminate your SSI benefits, but there are strategies that you can use to minimize your losses. ...

2. www.tcnf.legal › how-to-avoid-being-cut-off-ssiHow to avoid being cut off SSI benefits when you get a sum of ...

   www.tcnf.legal › how-to-avoid-being-cut-off-ssi

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   Dec 12, 2018 · Sometimes a supplemental security income (SSI) recipient will become eligible to receive a moderate or large sum of money that could make them ineligible for SSI. This can happen for any number of reasons, but we often see this happening if a person receives an inheritance or settles a personal injury claim.

3. www.avvo.com › legal-answers › what-do-you-do-ifWhat do you do if receive inheritance and are on SSI?

   www.avvo.com › legal-answers › what-do-you-do-if

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   Sep 16, 2021 · Fortunately, there is a simple way to accept an inheritance without risking loss of SSI benefits. By setting up a special needs trust and depositing the inheritance into it, the beneficiary can continue to receive SSI while also getting the benefit of the inheritance. The funds in the trust are overseen by a trustee such as parent or family member.

   • To add to Mr. Burrell's answer, if the inheritance is not terribly large, you also can spend it down. However, be aware that the spend-down must oc...
   • You have a couple of options: 1. If it is a significant amount of money, you may want to set up a “special needs” trust to have the money deposite...
   • I agree with the above answers. Given this is SSI, you likely will have to tiptoe carefully to maintain your medical coverage and monetary benefits...

4. Videos

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     What are SSI and SSDI?

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     Supplemental Security Income (SSI): Eligibility Requirements & Application Process

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     SSDI, SSI & Retirement | Social Security Disability Insurance & Supplemental Income | theSITREP

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5. safeharborestatelaw.com › receiving-inheritanceHow Inheritances Impact Your Social Security Benefit Eligibility

   safeharborestatelaw.com › receiving-inheritance

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   In this blog, we’ll discuss some proactive steps you can take to keep both your new assets and old benefits intact. How Inheritances Impact SSI vs. SSDI: Know the Key Differences. If you receive disability benefits, it’s important to know whether you get Supplemental Security Income (SSI) or Social Security Disability Insurance (SSDI).

6. www.thrivent.com › insights › social-securityHow to Keep Both SSI Benefits & Inheritance - Thrivent

   www.thrivent.com › insights › social-security

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   Sep 26, 2024 · Lump-sum inheritance payments: If you receive a lump-sum inheritance of more than the limit, you'll be ineligible for SSI based on income for a single month. Ongoing inheritance payments : If your inheritance is structured to provide ongoing payments of $963 a month or more, you'll remain ineligible as long as payments continue.

7. www.ssa.gov › ssi › text-other-ussiSupplemental Security Income (SSI) | SSI and Eligibility for ...

   www.ssa.gov › ssi › text-other-ussi

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   It is possible to get both Medicare and Medicaid. States pay the Medicare premiums for people who receive SSI benefits if they are also eligible for Medicaid. If you get SSI and have Medicare, you will also be eligible for Extra Help with Medicare Prescription Drug Plan Costs without filing a separate application.

8. People also ask

   Can I accept an inheritance if I am on SSI?

   • If you are on SSI any income you receive needs to be reported and will count against you in terms of benefits. Fortunately, there is a simple way to accept an inheritance without risking loss of SSI benefits.

   What do you do if receive inheritance and are on SSI?

   www.avvo.com/legal-answers/what-do-you-do-if-receive-inheritance-and-are-on-s-5352367.html

   See all results for this question

   Will my inheritance affect my SSI benefits?

   • Receiving an inheritance can shrink or eliminate your SSI benefits, but there are strategies that you can use to minimize your losses.

   Will My Inheritance Affect My SSI Benefits? - SmartAsset

   smartasset.com/financial-advisor/ssi-and-inheritance

   See all results for this question

   Can I get SSI If I receive a lump-sum inheritance?

   • Lump-sum inheritance payments: If you receive a lump-sum inheritance of more than the limit, you'll be ineligible for SSI based on income for a single month. Ongoing inheritance payments: If your inheritance is structured to provide ongoing payments of $963 a month or more, you'll remain ineligible as long as payments continue. 2.

   How to Keep Both SSI Benefits & Inheritance - Thrivent

   www.thrivent.com/insights/social-security/receiving-inheritance-while-on-ssi-benefits-rules-to-know

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   Can a Supplemental Security Income (SSI) recipient be ineligible for SSI?

   • Sometimes a supplemental security income (SSI) recipient will become eligible to receive a moderate or large sum of money that could make them ineligible for SSI. This can happen for any number of reasons, but we often see this happening if a person receives an inheritance or settles a personal injury claim.

   How to avoid being cut off SSI benefits when you get a sum of money

   www.tcnf.legal/how-to-avoid-being-cut-off-ssi-benefits-when-you-get-a-sum-of-money/

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   Can you get SSI and Medicaid?

   • Many people receive both SSI and Social Security benefits. Medicaid is linked to receipt of SSI benefits in most States. Medicare is linked to entitlement to Social Security benefits. It is possible to get both Medicare and Medicaid. States pay the Medicare premiums for people who receive SSI benefits if they are also eligible for Medicaid.

   Supplemental Security Income (SSI) | SSI and Eligibility for Other

   www.ssa.gov/ssi/text-other-ussi.htm

   See all results for this question

   Can I get Medicare if I have SSI?

   • It is possible to get both Medicare and Medicaid. States pay the Medicare premiums for people who receive SSI benefits if they are also eligible for Medicaid. If you get SSI and have Medicare, you will also be eligible for Extra Help with Medicare Prescription Drug Plan Costs without filing a separate application.

   Supplemental Security Income (SSI) | SSI and Eligibility for Other

   www.ssa.gov/ssi/text-other-ussi.htm

   See all results for this question

9. www.medicareplanfinder.com › blog › medicare-and-ssiMedicare and SSI (Supplemental Security Income)

   www.medicareplanfinder.com › blog › medicare-and-ssi

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   Oct 14, 2019 · Some states also add money to this based on where you live. Arizona, Arkansas, Georgia, Mississippi, Oregon, Tennessee, Texas, and West Virginia do NOT add money to the SSI benefit. Can I Get Medicare if I Have SSI? Not necessarily. It may be possible to qualify for both programs. You can qualify for Medicare if you: Turn 65; Are diagnosed with ALS