Will An Inheritance Or Personal Injury Settlement Effect My Social Security Benefits?
It is not unusual for person’s receiving Social Security benefits to come into money or property by way of inheritance or personal injury settlement or judgment. To determine whether the receipt of this money or property will adversely effect your benefits, you must determine what type of Social Security benefits you are receiving.
There are two types are Social Security benefits: Supplemental Security Income( SSI) benefits and the other is called Social Security Disability(SSDI) benefits .
Social Security Disability benefits are paid to persons that have put in the required number of quarter payments over a specified period of time and is not needs based. A person drawing Social Security Disability benefits has no limits on what property they can own. Therefore the receipt of an inheritance or personal injury settlement will have no effect on a person receiving Social Security Disability benefits.
On the other hand, Supplemental Security Income benefits is a needs based program. Claimants are entitled to these benefits only if they do not exceed certain property limits. Therefore the receipt of an inheritance or personal injury settlement may effect on a person receiving .Supplemental Security Income benefits.
If you are unsure what kind of benefits you are drawing, you can obtain this information the Social Security Administration in order to take preventive actions to avoid losing eligibility of your Supplemental Security Income benefits.
Should you have questions about SSA, contact an experienced Social Security attorney.
-Kent S. DeJean