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What will happen to my benifits if I inherit any money?
EFFECT ON BENEFITS WHEN INHERIT MONEY IS RECEIVED.
DEPENDS ON YOUR BENEFITS.
If you're on SSDI, this will not matter. If you're on SSI, any inheritance more than $2,000 could disqualify you. If you are on SSI and are receiving a large inheritance, I would contact the SSA immediately. You can set up a special account for the funds, or you may have to forfeit the inheritance.
Im on SSDI and inherited funds which I used to buy property in cash, my questions are:
If I decided to sell the property, would any left over funds possibly cost me my SSDI ben though I bought it with my inheritance?
If i decided to rent the property, would I still be able to keep my SSDI benefits?
No. Inheritances do not matter for SSDI recipients. Only SSI recipients have to worry about unearned income.
What if I'm on SSDI and sell my home will this effect my SSDI benefits? Can I transfer title of home without issues?
No, if you are on SSDI, an inheritance will not matter.
I currently receive SSDI funds so if I inherit property and currently own my home can I rent this new property or do I have to sell the property?
What is required for me to report inheritance to SS?
SSDI income limits only relate to earned income, so in order to rent the property and receive income from it, you would have to establish that you are not doing any work to get that income. Additionally, you do not have to report the inheritance to the SSA.
I would contact them for more information about their definition of "work" in these circumstances, we've got a list of local offices here:
Hi, I will be coming into an inheritance worth about 100,000 to 300,000 I'm on SSI. I am more concerned about losing my medical insurance. Will I lose my medical insurance?
If you've got private insurance, you should be all set. If you're receiving Medicare, I would call your state's Medicare office to get some more information.
Since Medicare is run state-by-state, I would not be able to say if you would become ineligible for benefits based off of your inheritance.
if were to inherit savings bonds , will that effect ssdi benefits?
That may not affect your SSDI benefits as SSDI benefits are based on work history and not your current income.
My husband will inherit some money in the next few months, however he hasn't been able to work for the last month and the dr has told him not to go back to work. He is needing to file for SSDI but we were told if he does that before he receives his ibheritace that they will take that money. Is this true?
I'm not aware of any regulation or stipulation regarding the SSA taking inheritance money because someone received it while they had an open SSDI application, as SSDI benefits are based on work record, rather than income or resources.
I was awarded ssi by an ad ministrations law judge about a year and half ago same time decision came in father passed away leaving monies to me ..the man at ss told me I would receive the benefits once the cash is depleted. Question ..knowing my fathers wish I'd like to know if it is permissible to put money into an Ira for my daughter
I am disabled and need an answer asap please.
You may need to place the money in something like an ABLE account, or a special needs trust, both types of account are exempt from SSI savings and income limits and as such you may still be eligible if you have that money in those types of accounts.
I am on SSDI and medicare. I am due to get an inheritance of appox. 60k . I know my SSDI is ok
but what about the Medicare ?
Medicare is not income-based, so your medicare benefits may be unchanged due to your inheritance. However, if you receive any income-based aid, such as SSI or Medicaid, your benefits may change due to that inheritance.
i have 2 doctors that have written statements saying i need a service ans i'm on ssdi and have been for years. anyway, i had a puppy given to me and i've had her for 6months,got her at 4 weeks. i'm not asking for a service dog, i just need some help training her. i now have both my shoulders' that are going to need surgery and it will take alot of time to heal. like i said i'm on disability and make under 900. a month and my other bills. any ideas on where to look? i live in a small hick town that can't help, unless the cops shot the breed!
You may want to contact a Social Security attorney or advocate about your case.
My brother receives SSDI. Our father died and he is a beneficiary on 2 IRA. If he cashes in the inherited IRA will it affect his benefits?
If he is on SSDI, then his benefits will not be affected.
My father recently passed. I have inherited his home and purchased one for my family. The family has decided to rent out his home instead of selling it. I am on SSDI, will the purchase and renting out my fathers home effect my SSDI benefits? I also will start receiving a nominal monthly amount from his investments, will this effect SSDI? Do I need to inform SSDI of these changes?Thank You
SSDI is based on your own work history and not any forms of income. Therefore there should not be any changes to your benefits.
I have been receiving benefits for a couple of years now and just discovered I am going to receive an inheritance of around 50k from a recently passed relative. I understand that SSDI benefits will not be affected by the inheritance, but SSI benefits could be affected. My problem is I honestly don't remember which government alphabet soup is it that I receive, SSDI or SSI. Is there a simple place I can double-check which I actually receive? Would the social security website have it?
You can call the SSA at 1 (800) 772-1213 to retrieve any information about your benefits.
I was awarded disability benefits in 2017. I was also awarded a settlement from a car accident I was in. My question is how can I receive my disability and still benefit from my automobile accident settlement?
Disability is not based on income. It is only based on your previous work history, therefore there should be no changes to your disability. For more details about your specific case, you can always give your local SSA office a call.
What is the diference between SSDI and SSI.
In short, SSDI and SSI both have the same medical requirements (outlined in the Blue Book). To also qualify for SSDI, you'll need to have enough work credits (which are earned by paying into Social Security taxes - the amount needed varies with age). For SSI, the amount of work credits you have doesn't matter. Instead, it's based on income. You will need to be within the SSA's income limits to qualify for SSI.