Q: if i sign away my inheritance. from selling a house will it effect my ssi?
If you receive Supplemental Security Income (SSI), signing away your inheritance from selling a house may affect your eligibility for SSI, depending on the value of the inheritance and the terms of the agreement.
Under SSI rules, if you receive an inheritance or any other type of financial windfall, it may be considered "unearned income" and could result in a reduction or termination of your SSI benefits. However, there are certain exclusions and exemptions that may apply, depending on the amount and type of income.
If you are considering signing away your inheritance, it is important to consult with a qualified attorney or financial advisor who is knowledgeable about SSI rules and regulations. They can help you understand the potential impact on your benefits and advise you on the best course of action.
It is also important to note that there are rules and restrictions surrounding transfers of assets for individuals who receive SSI, as they are subject to strict asset and income limits. If you transfer assets or income in a way that is not consistent with SSI rules, it may result in a period of ineligibility or other penalties.
For more information about SSI rules and how they may apply to your situation, you may want to contact the Social Security Administration or consult with a qualified attorney or financial advisor.
Justia Ask a Lawyer is a forum for consumers to get answers to basic legal questions. Any information sent through Justia Ask a Lawyer is not secure and is done so on a non-confidential basis only.
The use of this website to ask questions or receive answers does not create an attorney–client relationship between you and Justia, or between you and any attorney who receives your information or responds to your questions, nor is it intended to create such a relationship. Additionally, no responses on this forum constitute legal advice, which must be tailored to the specific circumstances of each case. You should not act upon information provided in Justia Ask a Lawyer without seeking professional counsel from an attorney admitted or authorized to practice in your jurisdiction. Justia assumes no responsibility to any person who relies on information contained on or received through this site and disclaims all liability in respect to such information.
Justia cannot guarantee that the information on this website (including any legal information provided by an attorney through this service) is accurate, complete, or up-to-date. While we intend to make every attempt to keep the information on this site current, the owners of and contributors to this site make no claims, promises or guarantees about the accuracy, completeness or adequacy of the information contained in or linked to from this site.