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Old 11-02-2011, 01:47 PM
 
15,199 posts, read 31,153,980 times
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I am trying to get some information for my sister who is not computer savvy and lives in another state. She recently started receiving disability income, both on a monthly basis and a lump sum. The lump sum is for 2 years of back payments from Social Security. She is not allowed to have over $2,000 at the beginning of each month, and has 6 months to spend the lump sum. According to the SS website, they don't care what she spends the lump sum on, but has to keep receipts to prove where it was spent, and can't be spent on anything considered a "resource", also she could even be penalized for "giving it away."


So the question: on the website it mentions possibly setting up some sort of "trust" so that it is available to meet needs not covered by SSI or other programs. Not sure what this means - does anyone have any experience with this? I told her to go talk to the Social Security office and see what they say, but would be interested to hear of anyone's personal experiences with this.

Thanks for any thoughts you may have.
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Old 11-02-2011, 02:12 PM
 
Location: The Triad (NC)
28,501 posts, read 62,182,463 times
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This special needs trust faq might be a good start:
Frequently Asked Questions About Special Needs Trusts

hth
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Old 11-02-2011, 02:38 PM
 
15,199 posts, read 31,153,980 times
Reputation: 18364
Quote:
Originally Posted by MrRational View Post
This special needs trust faq might be a good start:
Frequently Asked Questions About Special Needs Trusts

hth
Thank you, there is some helpful info on that site.
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