Lump Sum Social Security Payment
What is a social security lump sum death payment?The Social Security Lump Sum Death Payment is a benefit that is paid upon the death of an individual who has earned enough credits to have Social Security Insurance. The total of the Social Security Lump Sum Death Payment is $255. The Lump Sum Death Payment is only payable to either a surviving spouse who was living with the deceased individual or was getting Social Security Benefits from the individual’s Social Security, or a child of the deceased individual that is eligible for benefits during the month of the death. If there are no individuals that are able to receive the Lump Sum Death Payment then the Lump Sum Death Payment will not be allowed to be paid out. Payment to funeral homes or to an estate for the cost of funeral is also not allowed.
How can a person apply for lump sum death payment online?A person will not be allowed to for a Lump Sum Death Payment online. The reason for this is because the Social Security Office will need to be able to actually see certain documents so the Social Security Office can review these documents. A person that is filing for a Lump Sum Death Payment will need several documents, here is the list of documents that a person will need: proof of death which could be a death certificate, the deceased Social Security and the Social Security number of the individual who is filing, if the individual filing as a widower or widow then this individual will need a copy of the marriage certificate, this individual’s birth certificate, copy of divorce papers if the individual is filing as a divorced surviving spouse, the birth certificates and social security numbers of any dependent children, the most recent W-2 or income tax return of the deceased, and the individual that is filing’s bank account number so the benefits can be depositing into the account.
Is there a form to fill out if an individual’s elderly parent dies, to receive the Lump Sum Death Payment?For an individual to receive the Social Security Lump Sum Death Payment this individual must either be the surviving spouse or a minor child that has been the recipient of benefits off the deceased’s account. The surviving spouse pertains to divorced spouses as well, as long as both parties have not remarried. If an individual is eligible for the Lump Sum Death Payment then the individual will need to apply for the benefit at their local Social Security Office.
If a person has received a Social Security Lump Sum Payment can they put the money into an Individual Retirement Account in order to protect the payments from creditors?It may not be possible to place Social Security Disability Insurance Benefits into an Individual Retirement Account since the individual is not actually earning any money. As for creditors they are unable to go after a person’s Social Security Disability Insurance Benefits, so if a person receives a Lump Sum Payment from Social Security Disability the money will be safe. There are ways to ensure that the money is safe, one is to make sure that any Social Security Disability Insurance Benefits are placed into a separate account and is not co-mingled with other monies. It is also possible for Social Security to put a person’s benefits on a “debit card”.
Can a person be denied the Lump Sum Death Payment if the deceased resided in a nursing home?It is stated in the requirements that a person must be residing with the deceased at time of death, it is possible for a person to be denied the Lump Sum Death Payment if this is the case. However it is also stated under the definition of living together that if the person was in a hospital or nursing home and it is able to be proven that the only reason for living separately was due to medical reasoning and if not for those reason the couple would have be residing together.
Social Security does give Lump Sum Payments in certain cases such as disability and death. There are several requirements that a person must meet in order to apply for either type of benefit. The difference in the two Lump Sum Payments is that the Lump Sum Death Payment is a set $255, while disability varies from each individual case. If a person has a question regarding a Social Security Lump Sum Payment, the best place to start is asking an Expert.