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Marsha411JD
Marsha411JD, Attorney
Category: Legal
Satisfied Customers: 19768
Experience:  Licensed Atty, 29 yrs exp in the practice of law.
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I;m on social security and my mother bought a house brother

Customer Question

I;m on social security and my mother bought a house for my brother and I. What will social security do to my income when I report the house? What could happen if I don't notify them.
Submitted: 6 months ago.
Category: Legal
Expert:  Marsha411JD replied 6 months ago.

Hello,

Thank you for the information and your question, however, in order to assist you I need to know what kind of Social Security payments you are receiving. Is this SSDI or SSI, or what exactly? Also, who's name is ***** ***** in and are you going to live in the house?

Customer: replied 6 months ago.
I'm 55 years old, disabled and on SSI, not SSD. Hope that's what you needed.
Thank You,
Krista
Expert:  Marsha411JD replied 6 months ago.

Hello again Krista. Thank you for part of the information I asked for, however, I don't see where you answered my question about who's house the name will be in and where you are going to live there. In the interest of time though and since I am off for the rest of the weekend, I will go ahead and address the issue without that important information. Feel free to update your facts if you are not living in the house.

Recipients of SSI must report all assets to the SSA. Not doing so is a violation of law and could cause the recipient to lose their benefits. That said, a home that you live in is excluded from the asset calculation for purposes of determining financial need. This is a list of those assets that are counted in determining need:

  • cash
  • money in a checking or savings account
  • cash value in life insurance policies (over $1,500)
  • stocks and bonds
  • household goods and personal effects (over $2,000)
  • motor vehicles (except for one), and
  • real estate (other than the home in which a claimant resides)

Please feel free to ask for clarification if needed. I will get back to you as soon as I am available. If none is needed, then if you could take a moment to leave a positive rating in the box above, I will receive credit for assisting you today. Thank you

Expert:  Marsha411JD replied 6 months ago.

Hello again,

I wanted to touch base with you and make sure that you did not have any follow up questions for me from the answer I provided to you on the 21st. For some reason, the Experts are not always getting replies, or ratings (at the top of the question/answer page you are viewing or in the pop up box for this question), which is how we get credit(paid by the Site) for our work, that the customer thinks have gone through. In your case I received neither.

Please keep in mind that I cannot control the law or your circumstances, and am ethically bound to provide you with accurate information based on the facts you give me even if the news is not good.

If you are having technical difficulties with reading, replying or rating, please let me know so that I can inform the Site administrator.Please note that Site use works best while using a computer and using either Google Chrome or Firefox.

In any event, it was a pleasure assisting you and I would be glad to attempt to assist you further on this issue, or a new legal issue,if needed. You can bookmark my page at: http://www.justanswer.com/law/expert-marsha411jd/

Thank you.

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