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SNT & SSI

Latest Updates on Special Needs Trusts and How They Can Affect You!

New SSI Update: The Social Security Administration has updated its rules, effective September 30, 2024, regarding counting the value of food given to an individual who receives Supplemental Security Income (SSI).  ‘In-kind support and maintenance (referred to as ISM) previously included ‘food’ and ‘shelter.’ Now, the value of food no longer reduces an SSI recipient’s…

Failure to Report Settlement to Social Security Results In Woman Facing 15 years in Federal Prison

It’s been a long time since we have seen this scenario and surprising that it still happens. You need to know if your client receives government benefits. Inform them the settlement can affect their entitlement, and encourage them to meet with me to obtain the best planning advice. Scenario: a child is injured during the birth…

Tips For You To Know About Social Security Benefits

How well do you think you know your entitlement to social security benefits? Entitlement to benefits is based on a variety of factors such as marital status (including remarriage). How a change in marital status impacts your benefits: SSI Benefits: If you receive Supplemental Security Income (SSI), which limits you to owning no more than $2,000.00 in countable…