Do not take the 1/8th royalty. Ask for what they are offering for 3/16ths or 1/5th or 1/4th. You will not “lose” all of her social security. 1/8th royalty is the minimum being offered. The leases recently filed are for up to 1/5th. The bonus will be less, which will not impact the social security as much. They go in pairs. High bonus, low royalty (what they are offering) and low bonus, higher royalty. At .2315 ac, the bonus will not be much. And whether or not you sign it, she still owns it and she will still be owed money if there is a successful well, so better to be wise about it and control how she gets it and plan for the future.
Also, do not sign that lease as offered. It will probably not be in your favor as it has clauses that are in the operator favor and not hers. I would encourage you to read the Mineral Help tab above and to read a nice topic for inexperienced owners.Information for Inexperienced Royalty Owners
There are several companies leasing in 36, so she may get more than one offer. Ask to get a copy of the lease document and come back here to get some help on which clauses are good for you and which ones are not so good.