key takeaways
ssi beneficiaries are subject to limits on how much monthly income they can earn and how much they have in assets or "countable resources."
further ssi income and asset limit considerations
one vehicle, if it's used for transportation
not all of your income counts toward the ssi limit. for instance, when the ssa determines your eligibility, it does not count the first $65 earned from working, and one-half of earnings over that amount earned in a given month. you should contact the ssa to learn more, but there are other stipulations to the income limit beneficiaries should understand.6
an individual may have a special needs trust (also called a supplemental needs trust), which is designed to hold assets for a disabled person while preserving their eligibility for government benefits, like ssi payments. these trusts help cover expenses beyond what ssi or other government benefits may provide for, but the assets contained in them don't count toward an income or asset limit-as long as the money is spent on qualifying expenses.9
can i get ssi benefits for my disabled child?
there is both an income and asset limit for beneficiaries of ssi: the income limit for an individual is $1,767, or $2,607 for a couple, with asset limits of $2,000 and $3,000. if beneficiaries breach that limit, their benefits will be reduced by the ssa and potentially terminated. but beneficiaries can use able accounts as a potential workaround if their able account contains less than $100,000.
faux saint laurent bagchanel messenger bag original
www.popninja.net |
|
|