For those who have little to no resources for income and are 65 years old or younger, blind, or disabled, the federal government offers a program called Supplemental Security Income (SSI) as assistance. However, the Social Security Disability Lawyers with Fleschner, Stark, Tanoos & Newlin explain anyone wishing to receive these benefits must meet certain income criteria.
According to a release from the Social Security Administration (SSA), an individual wishing to receive SSI benefits may not have countable income resources exceeding $2,000, while a couple is only allowed to have $3,000 in resources. Those who have more assets than this amount may also receive benefits if they reach a special agreement with the SSA that says the recipient will sell off some of their resources.
Two types of property can be sold in order to reach required maximum income resource limits: real and personal property. Real property includes assets such as land or a house where an individual lives. Personal property is considered any item of value that is non-excluded, including secondary vehicles.
The SSA will award benefits under certain conditions for up to nine months while an individual liquidates real property, while only three months of benefits will be awarded if personal property is being sold.
Fleschner, Stark, Tanoos & Newlin’s team of attorneys recognizes how complex the regulations overseeing Supplemental Security Income Eligibility can be. That is why the firm suggests anyone considering applying for such benefits first discuss their case with a reputable attorney.