Owning A Home And Car May Not Affect SSI Eligibility

Supplemental Security Income (“SSI”) benefits are for disabled Americans with lower income and few assets. The requirements are strict with regard to how much property you can own to qualify; however, they don’t require you to be destitute and own nothing at all. There are several important assets that the Social Security Administration (“SSA”) does not count when determining your SSI eligibility. If you have more questions about SSI eligibility, you should consider speaking with an expert at a Tulsa SSI law firm.

What Assets Affect SSI Eligibility?

Most things you own will count against the $2,000 individual limit for SSI eligibility. This includes cash, money in bank accounts, real estate, vehicles (but see below) and certain types of life insurance policies. The SSA also counts “deemed resources,” which are resources that a parent or other family member contributes to your finances.

What Assets Do Not Affect SSI Eligibility?

There are several important assets that will not have any impact on the assets limit that determines your SSI eligibility. Several of those are:

  • The home you live in and the land on which it is situated (thus, you may own a home and still qualify for SSI assistance)
  • Household goods
  • One car provided you use it for transportation and are not keeping it for another purpose such as restoration or collecting
  • Educational awards like scholarships and grants that you use to pay education expenses within the next nine months

Are you an SSI recipient? How did your assets and income affect your SSI eligibility?

Troutman & Troutman, P.C. – Tulsa Social Security disability attorneys

Categories

    I didn't think there was a caring professional considerate attorney firm on the planet, but Troutman & Troutman proved me wrong. From the receptionist to the legal assistance to the attorney and more they were exceptional people.

    - Robert S.

    They did a fantastic job getting everything gathered up and getting the trial done as quickly as possible. Anytime I had a question they were patient and help me understand what was going on. Especially Christy and Charlie were great.

    - Michael M.

    Steve Troutman was able to get my short-term and long-term disability for me. Then Erin another lawyer for their firm got my Social security disability for me. Great people.

    - Billy S.

    Mr. Troutman walked me through the entire process. Heather was available each time I called, answered all my crazy questions, and helped me fill out forms along the way. I was never treated like I was wasting time.

    - Julia C.

    Erin and Keith were fabulous! They were compassionate, helpful, and very responsive! They made the process very smooth and painless every step of the way.

    - Valerie W.

We Are Here to Help 

Free & Confidential Consultations
  • Please enter your first name.
  • Please enter your last name.
  • Please enter your phone number.
    This isn't a valid phone number.
  • Please enter your email address.
    This isn't a valid email address.
  • Please make a selection.
  • Please enter a message.