Q: If I get Supplemental Security Income benefits, will my children get them, too?
A: When applying for Social Security (whether you work with a social security lawyer or navigate the process on your own), you need to keep in mind the differences between Social Security Disability Insurance and Supplement Security Income, or SSI. While those that qualify for Social Security Disability Insurance Benefits may be able to obtain benefits for their children (a social security lawyer can help with the process), those that apply only for SSI cannot. Because SSI is considered to be a need based program, dependant benefits are not offered.
If you are approved for Social Security Disability Insurance benefits, on the other hand, it is possible to obtain benefits for minor children in some cases. Whether or not your children will receive benefits depends on your earnings records. Not all of those who apply for Social Security Disability Insurance Benefits qualify for dependents’ benefits. Those with a short work history may not qualify. Talk to a social security lawyer for details.
Q: Can I still get SSI benefits if I have money in the bank?
A: If you speak to a social security lawyer, he or she will explain to you the consequences of SSI being a need based program. Those that qualify for SSI must earn little money and have few assets. And while every state has a slightly different resource limit for qualifying for SSI, there are a few general guidelines that a social security lawyer will give you when looking over your application.
In general, the following are considered “resources” that count towards your income:
• Coins and Currency
• Bank Accounts
• Stocks and other Investments
• Real Estate
• Life Insurance Policies
• Automobiles
• Owned Property
While you may qualify for SSI benefits if you own a car or your own home, having too many resources or too much money in the bank will affect your eligibility. In general you must have less than $2000 in the bank for an individual, or $3000 for a couple, to qualify for SSI. However, you will want to talk to a social security lawyer about the specific requirements for your state.
Q: If I sell my home and make a profit, will I lose my benefits?
A: Like with most social security questions, the correct answer to this varies from person to person, and it is a good idea to consult a social security lawyer. If you do make money from the sale of a home, the amount of money you make will be the deciding factor in the effect on your SSI. If the profit from your home takes you over the “allowable value” of your resources at the beginning of the month, you will not be eligible for benefits for that month. If, however, you maintain those “over value” resources in a bank account into the next months, your eligibility for SSI benefits may come into question. If you are planning to sell a home, it is a good idea to consult a social security lawyer to understand how that sale may affect your benefits.