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I have been receiving disability benefits. I recently have
I have been receiving disability benefits. I recently have been put on a general warrenty deed where our current residence has been & that my father in law has given to my husband and myself 50 50 ownership between my husband and myself. How does that effect my disability benefits and do I need to report this asset?
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I am just beginning the process of filing SNT we have
I am just beginning the process of filing for a SNT we have for our son... late as usual... 2011. We have a major fund raiser every year that raises $50K at this point... all donations are $5000 or less... $50, $25, $100, $500.... The trust then pays for gas for special needs gym, the gym, dr appts etc... no idea how to file this
A friend of mine is on SSI disability and last month her father
A friend of mine is on SSI disability and last month her father passed away. Her brother is handling the executor role and he has called to let her know that the insurance policy is written such that the company is breaking the funds into equal parts divided among her siblings. Her brother has let her know that he needs her to send back the funds right away to pay for the deceased debts and doesn't expect there to be any remaining funds from the repayment of the debts.I have a few questions.1. I saw that you are allowed to have $2000 in resources while on SSI. This payment from the insurance company will be around $13,000. This money will be sent back to her brother to pay debts as soon as she receives the check. What steps will my friend need to take to protect her SSI benefits. My friend is having great anxiety over this issue and the more detailed the explanation the better for her peace of mind. She needs a step-by-step approach.2. What is the best way to document the return of the monies so that she can prove she doesn't have the resource.3. Will there be any tax issues with this insurance money. My friend will have the funds for a couple days at most before they are sent off to her brother to pay debts.
when establishing a special needs trust ssi disable son, the grantor (his father)ha
when establishing a special needs trust ssi disable son, the grantor (his father)has died but left a life insurance policy payable to beneficiary(my son). The trust agreement calls name of the grantor who would the grantor be if using the life insurance to establish the trust. I his mother would be the trustee. Also Article 5.1 in the state of Florida what are the governing laws they are asking for? In my studies I have found requirements social security and federal omnibus law statutes in this trust. can the grantor and trustee be same person? paragraph 2.1 whose death would be listed?
My mother got a brain aneurism a year and half ago. And she
My mother got a brain aneurism a year and half ago. And she hasn't been able to communicate. She cannot care for herself and is in a Sub-Acute care location. Since her incident I have been paying her credit card, utility, storage and mortgage bills. She does not have any income (no Social Security, no SSI, no Disability, no pension, etc), no assets (other than clothes and small items in her storage <$1,000 worth of stuff). Her house is worth a little less than what she owes on it. But we currently live in the home, because it was always her intent to leave it to me, since I have been paying the mortgage before her incident. If we rented the house out, we would probably have to pay out of pocket to cover the mortgage. So, my question is, what is my best course of action? I am going to go file for a conservatorship, but if she doesn't have any income and only expenses, how am I going to handle her finances properly? Currently I pay all her bills out of my pocket (with no little help from my sisters). The only bills of my mother that my sisters pay, are the credit card she let them use when she was well. Since my sisters are all in an agreement, would it be possible to take over her house and payments? Will the court allow it? She doesn't have a will or trust. But someone told me to get conservatorship and then create a trust for here with me as a benefactor. Will the court allow this? I don't want to lose the house. Or at the very least will the court allow me to try to refinance her home to pay off her bills? Will they allow me to take out a loan to pay off bills? Since she is living in a sub-acute care facility, will the court make a change in the living arrangements since she is not living in the home herself? Or will that make a difference in trying to transfer the home in my name?
My 82 yr old mother is the trustee for her younger disabledView more estate law questions
My 82 yr old mother is the trustee for her younger disabled sister, both in Texas. The younger sister receives SSI disability Federal assistance. They will be inheriting 3 properties in Texas along with 2 other siblings. The properties are in great disrepair and will not likely bring the property tax value (total $110K) if and when they are sold. A relative suggested the younger sister should "relinquish her inheritance rights" to protect her disability status. Is this wise? How do we do this in Texas?