Had an offer to lease some mineral rights. These rights were inherited from a trust. Can someone tell how it would affect my SSDI monthly payments once I receive the bonus check? I cannot 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. Simplified copy. Then the affidavit of heirship, etc.