U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Economics
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 03-28-2019, 05:38 PM
 
6 posts, read 2,153 times
Reputation: 10

Advertisements

Quote:
Originally Posted by galaxyhi View Post
Canlog, what, specifically, is your question?

Are you looking for yourself? For someone else? Just curios?

1) household goods, including a computer are considered to have little value, no one is goibg to pay $2k for a USED computer, for instance. It is a "personal effect", "personal effects" are NOT assets.


A mattress even a $5,k sleep number bed is a "personal effect" and NOT included.

The "personal effects" are items used for every day use, of little or no resale value, of no value to anyone else, and are NOT assets.
That answers most of my question. But what if you have a musical instrument that is over 10k dollars?
Reply With Quote Quick reply to this message

 
Old 03-28-2019, 06:56 PM
 
19 posts, read 1,904 times
Reputation: 43
Quote:
Originally Posted by Mircea View Post
No, SS is Schutzstaffel.

SSI is Supplemental Security Income.



Because he's a nutter.

Nutters cannot maintain a household, much less their own personal hygiene. Within 3 weeks it would roach-infested, bed-bug infested, lice infested and termite infested, with feces and urine everywhere and who knows what else.

A nutter would burn down the building a kill people trying to light a can of Sterno.



Talk to an attorney. There are many, many legal ways around that.




No.

She has to declare her husband's income/assets. The cap for unearned income like OASI benefits is $1,177/month and $1,400/month exceeds that even with the deductions allowed.

Even so, check anyway, because Nevada might allow deductions that the Social Security Administration (who administers SSI) doesn't allow.

Best bet is to draw on her husband's OASI account, in which case she'll get half of his or $700, and then when he dies, she files for survivor's benefits, which is the "S" in OASI (Old Age and Survivor's Insurance).

Now, if she wasn't married, then, yes, she could file for SSI can get $820, and it would be apportioned $700 from OASI and $120 from SSI as a single check/payment, except being in Nevada there's a State supplement, so that would be two checks/payments.

Even if they got divorced, it wouldn't matter, because they'd still be living in the same household.
thank u
Reply With Quote Quick reply to this message
 
Old Yesterday, 03:30 AM
 
1,028 posts, read 667,629 times
Reputation: 1641
You should really consult a lawyer about special needs trusts.

They are complicated.

With a trust, you have:

The beneficiary, who is the person for whom the trust was created, and:

The trustee, who has a fiduciary duty to manage trust assets in the best interests of beneficiaries as outlined in the trust agreement.

https://www.investopedia.com/terms/b...y-of-trust.asp

There are certain things a special needs trust should and should not buy. Again, a lawyer should explain this to you, as it is complicated. Some things you CAN buy, but with a potential reduction of benefits.
Reply With Quote Quick reply to this message
 
Old Yesterday, 03:47 AM
 
Location: Maine
2,386 posts, read 1,658,358 times
Reputation: 4242
Some assets that don't qualify as personal items include campers, snowmobiles, atv's.
Reply With Quote Quick reply to this message
 
Old Yesterday, 03:24 PM
 
Location: Washington state
5,107 posts, read 2,578,915 times
Reputation: 15220
Quote:
Originally Posted by Mircea View Post

SSI is Supplemental Security Income.
Thank you for the correction.

Quote:
Originally Posted by canlog View Post
I've seen a homeless man who seemed to be over 65. If a person over 65 can have SSI, how could there be homeless people who are over 65?
Well, this might be one answer:

The Average Social Security Benefit Won't Even Cover Rent in These 8 States

https://www.msn.com/en-us/news/other...tes/ar-BBUwAMt


And this could be another answer:

Americans Can't Afford a Home in 70 Percent of the Country

https://www.msn.com/en-us/news/other...try/ar-BBVjNfh
Reply With Quote Quick reply to this message
 
Old Yesterday, 09:55 PM
 
Location: SoCal
12,014 posts, read 5,696,494 times
Reputation: 8503
Don’t move to California if your SS cannot cover rent. But there’s nothing stopping one from driving for Uber. I met a few recently, one senior lady told me it got her out of her house. She moved from Georgia to California to be close to her grand kid.
Reply With Quote Quick reply to this message
 
Old Today, 03:57 PM
 
3,463 posts, read 847,833 times
Reputation: 2754
I still don't know if this thread is about social security or social security disability?
Reply With Quote Quick reply to this message
 
Old Today, 05:37 PM
 
Location: OH>IL>CO>CT
5,017 posts, read 8,028,266 times
Reputation: 6813
Quote:
Originally Posted by Grlzrl View Post
I still don't know if this thread is about social security or social security disability?
Neither.

It is about SSI (Supplemental Security Income), a welfare program run by the SSA.
See https://www.ssa.gov/benefits/ssi/

and https://en.wikipedia.org/wiki/Supple...ecurity_Income

BTW, it is not funded by SS taxes, but by regular IRS Income taxes.

Also, for the OP, it appears that musical instruments used as recreational or hobby uses are an exempt "personal effect".

However if it is held as an investment (like a Stradivarius violin) or to generate income ( in a pickup band) then probably not exempt.

See https://secure.ssa.gov/poms.nsf/lnx/0501130430 Item C.2.a Personal Effects
Reply With Quote Quick reply to this message
 
Old Today, 05:49 PM
 
57 posts, read 15,356 times
Reputation: 135
I would think if you have an instrument worth thousands of dollars, you would sell it before you take SSI. I can't see someone needing a $10,000 guitar to play recreationally.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply

Quick Reply
Message:


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Economics
Follow City-Data.com founder on our Forum or

All times are GMT -6.

2005-2019, Advameg, Inc. | Please obey Forum Rules | Terms of Use and Privacy Policy

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top