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Old 03-26-2019, 06:15 PM
 
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Quote:
To qualify financially for SSI, you cannot own more than $2,000 worth of total countable assets (if you are married, you may jointly own up to $3,000 in assets). Countable assets are basically anything of value which you own except for the home which you live in and one vehicle. Your assets include such things as money in savings and checking accounts, IRAs and other retirement accounts, cash value in life insurance policies, vehicles (other than one vehicle for transportation), and virtually anything else of significant value.
Does this mean that if your computer is more than $2000 you cannot qualify? What about chair, bed, desk, and clothing. Would that count towards $2000 worth of countable assets?
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Old 03-26-2019, 07:27 PM
 
Location: OH>IL>CO>CT
5,011 posts, read 8,021,036 times
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See item C. at https://www.ssa.gov/OP_Home/handbook...book-2156.html where it says, in part:

"In determining countable resources, certain exclusions are authorized by Title XVI of the Social Security Act, by other Federal laws, and by certain court cases. These exclusions are:

C. Household goods and personal effects regardless of value;"
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Old 03-26-2019, 07:47 PM
 
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Would computer be counted as household goods?
What about musical instruments? And an expensive mic?
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Old Yesterday, 06:08 AM
 
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Quote:
Originally Posted by canlog View Post
Would computer be counted as household goods?
What about musical instruments? And an expensive mic?
Things you keep in your home for personal (not business) use would normally count, unless specifically mentioned as another category.
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Old Yesterday, 11:20 AM
 
Location: SoCal
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I think of it as cash.
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Old Yesterday, 11:54 AM
 
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If a property you own is in someone else's name but permanently lent you the property would that not count even though basically yours?
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Old Yesterday, 12:31 PM
 
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Quote:
Originally Posted by canlog View Post
If a property you own is in someone else's name but permanently lent you the property would that not count even though basically yours?
It is not yours if you don't have the authority to sell it.
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Old Yesterday, 02:00 PM
 
Location: Ohio
19,014 posts, read 13,840,020 times
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Quote:
Originally Posted by canlog View Post
Does this mean that if your computer is more than $2000 you cannot qualify? What about chair, bed, desk, and clothing. Would that count towards $2000 worth of countable assets?
Which part of this:

Your assets include such things as money in savings and checking accounts, IRAs and other retirement accounts, cash value in life insurance policies, vehicles (other than one vehicle for transportation), and virtually anything else of significant value.

did you not understand?

"Anything else of significant value" means stocks, bearer bonds, non-bearer bonds, promissory notes, Ming Dynasty vases, Van Gogh paintings and the like.


It does not mean your Cuisinart food-processor or your TV.


You probably need a social worker, or your application will be rejected, so why don't you contact your county department of health and humans services and get one.
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Old Yesterday, 02:11 PM
 
Location: Coastal Georgia
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I am not sure about what you are saying. My friend inherited $600,000. when her father died. Her husband had a pension and they both had social security. She suffered a stroke and was in a very nice nursing home for 12 years before she died.

I know that after a few years, she qualified for Medicaid. Her husband is not destitute and I do not think he had to spend down all the money.
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Old Yesterday, 03:01 PM
 
2,598 posts, read 634,356 times
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Quote:
Originally Posted by gentlearts View Post
I am not sure about what you are saying. My friend inherited $600,000. when her father died. Her husband had a pension and they both had social security. She suffered a stroke and was in a very nice nursing home for 12 years before she died.

I know that after a few years, she qualified for Medicaid. Her husband is not destitute and I do not think he had to spend down all the money.
Perhaps the fact that SS and the Pension are only monthly income and do not count as assets. Also there are dollar-amount exclusions for assets "up to" which, as a lump sum, would sit by itself. Could be a nice cushion if income is good.

Also, the vehicle in which the inheritance was transferred may have had something to do with it. But I'm speculating.
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