If instead of a lump sum when she dies, what if she sets up a trust for me and I get $500.00 a month. Will that count and could it disqualify me from my current benefits?
Go to a elder-care lawyer and ask them to set up a pooled trust. Medicaid will not count the trust as a resource and the dividends paid out to you as income, therefore, allowing you to maintain your current SSI eligibility status. Without a trust, Medicaid will count the inheritance and the monthly amount as income to you. If you get SSI though the Social Security Administration, the limit that you would be drawing is $674.00 per month. If you are receiving SSI, the money could put you over the limit,however, it may not knock you out of apply for Medicaid though the local county Medicaid office.If she is on her deathbed, do you want to make her go through the process of setting up an account so you can collect SSI and still get the inheritance?
Any income you get will offset what SSI pays you, and they have access to your bank account and finances and may decide you no longer qualify for SSI. You know your asset limit is $2000 and your income limit for SSI eligibility is whatever your county decides. In California, if you get over $900 a month Social Security you cannot get SSI.
Are you so disabled you cannot work at all?
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