Had an offer to lease some mineral rights. These rights were inherited from a trust can some one tell how it would affect my SSDI monthly payments once I receive the bonus check. I can not afford to have the monthly checks altered by bonus payment as I will not be eligible for SSI for another 3 year period. If someone might know I would appreciate any help. Thanks
Debby: SSI and SSDI both provide disability payments but SSI is a “needs based” benefit that has income and asset limits. SSDI is a benefit that is based on work credits. Therefore, you could hit the lottery and still be eligible for SSDI.
If you are on SSI, do the following:
The trust should be reviewed. Depending upon how it was set up it may provide asset protection and also prevent disqualification from SSI, Medicaid or other needs based programs.
If you are on SSI and receive a substantial payment, you should consider a spend-down.
For impact of unearned income on SSI benefits see here: Social Security Website
I will be getting the probated will, certificate and inventory listing. etc. I will then be working on dissolving the trust. Esimplified copy. Then the affidavit of heirship etc.