The general rule for collecting Supplemental Security Income (SSI) benefits is that you have to be pretty close to dead broke before you can receive anything. There are circumstances, however, when a person with too much in income and/or assets can still get benefits. This can happen, for example, if the disabling condition arose from an accident that resulted in an insurance settlement. Or, a disabled person could inherit money or property from a relative.
Consider A Special Needs Trust
When the facts warrant it, an SSI beneficiary could consider establishing a so-called special needs trust (SNT). This is very complicated and has to be done exactly correctly. Needless to say, I don’t do this sort of thing. But, a lawyer who is an expert in trusts can set up an SNT in a way that allows the SSI recipient to still get her monthly benefits despite having too much money. An SNT is designed to take control of the assets away from the disabled person and give them to a trustee. The trustee can then spend the money in the SNT on specific things the SSI beneficiary requires due to her disabling condition.
Read This Outstanding Blog To Learn More
A very fine Tucson law firm called Flemi and Curti has just published an excellent piece on recent changes to the way Social Security handles SNT’s. The article is a little complicated, but even ordinary readers should understand it. The upshot of the changes is that it should be easier to get SSI benefits using SNT’s.
A Fine Tucson Law Firm Can Assist You
If you think that an SNT is worth exploring, I urge you to read the article. If you want to explore setting up an SNT for yourself or a relative, I encourage you to contact either Robert Fleming or Tom Curti. I have known these fine gentlemen since around the time of Big Bang. I am certain they would be happy to help.
