In many situations, someone with a disability may encounter issues with benefits should they receive an inheritance. While an inheritance can be a tremendous gift, it can create some problems, and having the best solution possible can bring you great comfort.
It helps to recognize how you can get through the obstacles that an inheritance may cause. Knowing your options often means working with a team that has experience in inheritance issues and can help you protect what you receive.
Inheritances and Your Benefits
A disability may make you eligible to receive benefits from the Social Security Administration, such as SSI or SSDI. These programs, along with Medicaid, all differ in how they benefit you, but they are all essential in your long-term quality of life. However, an inheritance can impact some benefits, but not others.
Medicaid and SSI are both programs that provide disabled individuals with income. These programs look at income when determining who is eligible. If you receive an inheritance, government entities will view the money you receive as income, and these programs may deny your ability to receive any more benefits.
On the other hand, receiving SSDI is a benefit you can receive when the government entities consider your needs, not your income. Because of this, an inheritance would not impact your eligibility to receive SSDI benefits.
How We Help
At Legacy Enhancement Trust, we look at your situation and determine personalized ways to protect your ability to keep your benefits. A special needs trust may be something you benefit from, but we will be sure to look at all options that fit your needs.
If you recently received an inheritance or are a beneficiary in someone’s will to receive an inheritance, you should know your options. We’ll be there to help you every step of the way and provide you with the solution that suits you best. We know an inheritance can be helpful, but it shouldn’t impact your benefits, and we’ll work hard to see to it you’re in good hands.
Call us today and speak with someone on our team about your options: (888) 988-5503.