Living Will Colorado With Someone Affect My Ssi
Description
How to fill out Colorado Living Wills And Health Care Package?
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FAQ
The only income that would affect SSDI benefits is earned income that exceeds $1,170/month. Inheritances are unearned income. As such, any inheritance you receive will not affect SSDI benefits.
If an eligible individual lives with another person and they are not married or are not representing themselves as husband or wife, the eligible individual's SSI benefit is determined without considering the income from the other person.
An Inheritance Can Impact SSI Benefits You may face financial penalties if you fail to report an inheritance and you may also have your SSI payments halted for at least six months and up to three years. Even if you don't accept the inheritance, you may have to pay $25 to $100 for each failure to report or late report.
As of 2022, the countable resource limit is $2,000 per individual or $3,000 per couple. Countable resources might include cash, bank accounts, financial assets like stocks and mutual funds, land, vehicles or other personal property that could be converted to cash.
The Bottom Line If you live with a spouse and they pay for living or food expenses for you, this doesn't affect your SSI benefit. Similarly, parents can provide this for their children without it affecting their child's SSI benefits. If you live in an institution, you might also see your SSI reduced.