Will receiving an inheritance affect my disability benefits?

by May 28, 2015

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Workers who suffer a disabling injury that prevents them from working can be devastated with how their lives can change seemingly in the blink of an eye. In many cases, a person goes from being a self-sufficient, wage-earning member of the family to being unable to work and reliant on Social Security benefits.

Under these circumstances, it can be confusing to figure out what benefits are available and what you may be able to collect in financial support through disability benefits. For example, many people wonder if they will lose benefits or be denied if they receive money through an inheritance or other sudden influx of money.

Generally speaking, you will not lose Social Security disability benefits or have them decreased if you come into some money through an inheritance or other “financial windfall,” as noted in this article in AARP.

If you are applying to receive disability benefits, there are financial and employment requirements that must be met. For instance, you will need to have worked enough in recent years and earn a certain amount of money to accumulate the necessary number of work credits to receive SSDI. That is the only consideration made when it comes to financial eligibility and SSDI.

This means that it will not matter if you suddenly come into money through a lawsuit, investment success or inheritance while collecting SSDI. You should still expect to receive the same benefits you received before the financial boost.

This is not to say that such events will not impact other forms of government support. For instance, if you qualify for relief through Supplemental Security Income, you very well could lose or have reduced monthly payments from support programs like SSI, as they are based on a person’s financial means.

If you are concerned about your benefits and whether or not you could be in jeopardy of losing them, it can be crucial to discuss your questions with an attorney. With information on your rights and options, you can make decisions that are in your best interests and know what you can expect.