Social Security Disablity Community Group
This is for any one that has found themselves in the long wait for Soicial Security. Any one that has gone through this process or is in the middle of it. Venting is allowed.
Just wanted to pass on to those who are disabled and may recieve inheritance or other sums of money and do not want to have it considered income by the SS. It costs about $500 to set up though but still it would allow you to keep benefits and not have to immediately spend the money so SS won't stop payments to you.
http://specialneedsanswers.com/resources/article.asp?id=5370&gclid=CKfnkvTLsJ0CFRwhDQodLVrXhA
Special needs trusts (also known as "supplemental needs" trusts) allow a disabled beneficiary to receive gifts, lawsuit settlements, or other funds and yet not lose his or her eligibility for certain government programs. Such trusts are drafted so that the funds will not be considered to belong to the beneficiary in determining eligibility for public benefits.
A friend is going through this, she is legally blind and on disability and is recieving inheritance money and a settlement from a lawsuit. So if anyone else is in same boat, check it out..
http://specialneedsanswers.com/resources/article.asp?id=5370&gclid=CKfnkvTLsJ0CFRwhDQodLVrXhA
Special needs trusts (also known as "supplemental needs" trusts) allow a disabled beneficiary to receive gifts, lawsuit settlements, or other funds and yet not lose his or her eligibility for certain government programs. Such trusts are drafted so that the funds will not be considered to belong to the beneficiary in determining eligibility for public benefits.
A friend is going through this, she is legally blind and on disability and is recieving inheritance money and a settlement from a lawsuit. So if anyone else is in same boat, check it out..
deleted_user
Make sure that you are aware of the extremely limiting circumstances with these special needs trusts. There will be someone in charge and the money can only be used for certain purposes so there are trade-offs. It is not an easy out from the resource limit of SSI. Also, if you are on Social Security Disability instead of SSI, then this step is not necessary since there are no limits on your resources(only on SSI).
Gomezy3k
True but if that is the only resort, one has to take it. My girlfriend got an inheritance from her father and also got a check from a lawsuit and is in the position of having to go the Trust route since she would be cut off from SS if she put the money in a bank account. Our illustrious government doesn't care about the disabled and screw them over any chance they get. She is legally blind and cannot work and is basically screwed by having any money other than the pittance she gets to try and survive on every month.
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