Q: I am on SSI and if I get money for the black farmer's lawsuit will it affect my ssi
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A:
Receiving money from the Black Farmer's lawsuit settlement could potentially impact your SSI benefits. The Social Security Administration (SSA) counts many types of income when determining eligibility for SSI. If the settlement amount is substantial, it might be counted as income and could reduce your SSI benefits or make you ineligible for a period.
It's important to report any changes in your financial situation to the SSA as soon as possible. Not reporting income changes can lead to overpayments, which you might have to repay later. You can contact the SSA directly to discuss your specific situation and get guidance on how to proceed.
Additionally, there may be ways to protect your SSI benefits. For instance, certain types of trusts can be set up to manage settlement funds without affecting your eligibility. Seeking advice from a legal professional who is knowledgeable about SSI rules can help you explore these options and make informed decisions.
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