(Visit the Social Security Disability Resource Center) –
This is a common question for people who are considering filing for SSDI. There is a belief that all Social Security disability programs require you to have no assets or that you have to give up your assets. This simply is not true for either Social Security program for disability benefits, namely Social Security Disability Insurance and SSI (Supplemental Security Income).
If you file for SSDI, you do not have to even consider what assets you have. Social Security disability is based upon an insured status gained through your work prior to becoming disabled. You paid payroll taxes on your earnings that allowed you to be insured for disability. If you think about it, payroll taxes are like premiums paid. Additionally, your disability benefit is determined by the yearly amounts of your earnings prior to becoming disabled. This explains the wide range of benefits paid to Social Security disability applicants.
If you file for SSI disability, your assets can be a problem as this program is a need based disability program and as such it requires that your income and resources (assets) be under the SSI income and resource limits to eligible for benefits.
However, even this program allows you to have some assets. SSI allows you to have 2000.00 in assets (bank accounts, pensions, cars, etc) after excluding the home you live in and your highest valued vehicle. If your assets are more than the limits, you can eliminate assets but you have to sell them for their true value and show how you spent the money. You cannot give or gift them to avoid selling them; if you do, your SSI benefits will be suspended or even terminated until your assets are below the limit.
In summary, you should schedule an appointment to file for disability with your local Social Security office. They will evaluate you eligibility for both programs and you can decide the best decision for you with regard to filing for disability.
For more information about SSD and SSI on this site, please refer to the pages and sections linked below.
- Getting disability approved on a reconsideration with an attorney
- What hours can I work and get disability?
- Denied for disability, then my condition got worse
- Can you get disability for migraines?
- What are wait Times for Social Security Disability Hearings?
- What type of back problems qualify for disability?
- How to dress for a disability hearing
- Social Security Disability SSI – mistakes not to make 2
- How does Social Security make a disability determination?
- If I get approved for disability, will I get kicked off later?
- Social Security Disability SSI – mistakes not to make 3
- Denial by an ALJ at a Disability Hearing
- What happens if a child is approved for SSI and later has benefits stopped?
- Can working hurt my disability case I have a hearing coming up?
- Does my doctor decide if I am disabled?
- Social Security Disability SSI – mistakes not to make 5
- Should I get a lawyer for my disability hearing for SSD or SSI?
- Social Security Disability SSI – mistakes not to make 6
- A medical or non-medical denial for disability
- How long does a disability judge have to make a decision?
- Will you lose your disability benefits when you get to retirement age?
- Getting Disability and Trying to work
- Can you file for disability after you file for early Social Security Retirement?
- When does Social Security send you to an xray?
- Social Security Disability SSI – mistakes not to make 8
- How do you get the most in Social Security disability SSI back pay?
- Social Security Disability SSI – mistakes not to make 9
- Social Security Disability SSI Appeals Council Appeal
- What are the requirements for disability?
- What about my disability back pay?
- Applying for SSI
- SSI Social Security Disability Award Notice
- Social Security Disability and SSI Applications
- Social Security Disability SSI decisions
- Disabilility application SSI, SSD, SSDI
- Social Security Disability Hearing
- Social Security Disability SSI Questions
- Get approved for disability
- How do I qualify for disability?
- Social Security Disability SSI denied
- Social Security Disability, SSI, Work, and Working
- Disability appeals
- Social Security Mental Disability Benefits
- Overview of disability
- Eligibility for receiving disability benefits
- Disability lawyer, disability attorney info
- To file a claim for disability