Do Their Resources Affect My SSI?”, The car belongs to someone who does not live with you. I want a new car. Agreement should be valid by the laws in your state, which usually means signed before the money was given. I am payee for adult son . up to $100,000 of funds in an Achieving a Better Life Experience (ABLE) account established through a State ABLE program (see the SSI Spotlight on ABLE). My average monthly medical expenses cost well over $50K and I never pay a dime other than the $1 per Rx. I don’t pay my parent, but the credit card company themselves, so I don’t know if it qualifies as “giving a resource away.” The person who told me to appeal stated that they just needed to see that my balance was below the income threshold limit but I don’t want to get in trouble for breaking a rule that I didn’t know about, especially if I do bigger payments on those cards to get below the limit.
If the funds are spent in an allowable way with all checks cleared by the end of the month, it will not count as a resource the following month. They are both registered under her name. Would it make a difference if I sell it to a buyer or trade it in to a dealership for a new car?
My mom died in March 2016. They may not ask for them, but just in case. If you live together, it may be helpful to read these regs: https://howtogeton.wordpress.com/holding-out-as-a-married-couple-ssi-regulationsv/. Can he do this ? Each day, i continue to google and research things, am trying to prepare myself for anything and everything, every pitfall. I want to buy a new car. Only one car per couple. Bad Credit Car Loans and Low Interest Rates. Get the latest credit tips, resources and advice delivered straight to your inbox. How Do I Know If I’m Under the SSI Resource Limit? And with this cancer diagnosis (stage 0, so I’m not worried too much), that is going to go higher. One thing I picked up on in my new workspace was that all of the people who evaluate social security clients were asking how many cars people owned. So I could get a $10K check once I submit my claim. Only one car per couple. This is particularly an issue for low-income families with disabled children where both parents need to work and bring their children to medical appointments and disability…
If you are on SSDI, you can own a million cars. She wants to buy a car (so I can drive her to work) but does not have a driver’s license, so the car would need to be registered in my name. This blog is so helpful! People usually have wrong myths with social security. For example, if you live with your sister and you each own one car (two cars total) this will not affect SSI. If you don’t pay for these three things, or don’t pay the correct amount, your SSI check may be greatly reduced. Do Things – You can also spend money on experiences (For example: traveling to see a doctor, visiting family, getting medical care, taking a class, or doing other things).
The state valued it a $500.00….but being that is was a Marquis, I managed to sell it for 3.6k, in spring 2018. If you own only one car, that car can be of any value. I understand the difference between income and resources, but I’m a bit unclear about income.
who has their name on the car title. Rented and borrowed cars do not count as resources for SSI. This is most commonly used by small business owners and self-employed people, however, it might be possible in other situations if the vehicle is required by the employer as part of the work (not just for commuting). However, we really can’t argue that individuals need more than one car for transportation. If we purchase the car under a tenancy-in-common, with me owning a very small share in the vehicle (like $500 worth), will it slide with SSI if I eventually sell her my tiny portion? OR, SEND US AN E-MAIL FOR A PROMPT RESPONSE. Supplemental Security Income (SSI) is a needs-based program for low-income recipients, so it's reasonable to ask what the monthly check could be spent on. The best thing for me to do is to keep it simple.
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