Social Security Disability and assets
Are assets (meaning cars, cash, property etc.) important when you file a Social Security Disability or SSI claim? Well, the answer depends on which disability program you are talking about.
Social Security Disability is a program that is based on being insured for disability benefits as a result of having worked long enough and having paid enough into the system. For Social Security Disability, the assets you have are not an issue and do not enough get considered in the disability decision process.
SSI, however, is different. The Supplemental Security Income program (otherwise known as SSI) is based on need, therefore your resources and income have to be evaluated when your claim is filed.
Most often, when you file for Social Security Disability (not a need based program), you will be asked questions about income and resources to ascertain if you also may qualify for SSI. Why you might ask? Well, Social Security Disability has a five-month waiting period in which you will not be paid a benefit even if you are approved, and you may be qualified to receive SSI during those months if you meet the income and resource limits.
About the Author: Tim Moore is a former Social Security Disability Examiner in North Carolina, has been interviewed by the NY Times and the LA Times on the disability system, and is an Accredited Disability Representative (ADR) in North Carolina. For assistance on a disability application or Appeal in NC, click here.
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