alt.social-security-disability

On Tue, 19 Feb 2008 21:12:41 -0500, F8F-Bearcat
wrote:

>Hi Folks,
>I am due to receive a $10,000 payout from a deceased family members
>life insurance policy. Is there anything I need to watch out for
>regarding this new income since I collect SSI?
>Thanks for any help!
>Chris

/28tgoc

Will an inheritance affect my SSI benefits?

Question
I get Supplemental Security Income (SSI) because I am elderly and
have no income. My brother recently died and left me the money he had
in a savings account. Will this extra money affect my SSI benefits?
Will my SSI payments stop?

Answer
The money inherited from your brother is considered income for the
month you receive it and could make you ineligible for that month,
depending on the amount of the inheritance. If you keep the money into
the next month, it then becomes a part of your resources. An
individual cannot have more than $2,000 in resources to remain
eligible.