SSA.GOV
What is a "resource" in the SSI program? Answer
Resources are the things you own such as cash, real estate, personal belongings, bank accounts, stocks and bonds that you can use for your support.
To be eligible for SSI a person must have $2,000 or less in countable resources. A married couple must have $3,000 or less in countable resources. If you own resources over the SSI limit, you may be able to get SSI benefits while trying to sell the resources.
Not all of your resources count toward the SSI resource limit. For example:
the home you live in and the land it's on do not count.
your personal effects and household goods do not count.
life insurance policies may not count, depending on their value.
your car usually does not count.
burial plots for you and members of your immediate family do not count.
up to $1,500 in burial funds for you and up to $1,500 in burial funds for your spouse may not count.
if you are blind or have a disability, some items may not count if you plan to use them to work or earn extra income.
You may also wish to read our material on "resources" in the booklet, "Understanding SSI" and in the SSI Spotlight on this subject.
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How does disposal of resources affect SSI eligibility? Answer
To be eligible for SSI a person must have $2,000 or less in countable resources. If the person alleges a transfer of resources, we must determine whether the resource transfer was valid. If the transfer was not valid, we may still count the resource toward the $2,000 limit. If the transfer was valid, the resource would no longer count toward the $2,000 limit.
Transfers of resources may occur through any of the following types of transactions:
Sale of property;
Trade or exchange, one property for another;
Giving away cash, property or bank accounts, etc.
Since 12/14/99, giving away a resource or transferring it for less than it is worth can make a person ineligible for SSI for up to 36 months. The number of months of ineligibility depends on the value of the resource that was transferred or given away and the compensation, if any, that the individual received for that resource. For more information, please read our material on "transfers of resources" in the SSI Spotlight on this subject at
http://www.socialsecurity.gov/notices/supplemental-security-income/spotlights/spot-transfer-resources.htm or in the booklet "Understanding SSI."
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Will an inheritance affect my SSI benefits? Answer
The money inherited from your brother is considered income for the month you receive it and could make you ineligible for that month, depending on the amount of the inheritance. If you keep the money into the next month, it then becomes a part of your resources. An individual cannot have more than $2,000 in resources to remain eligible. Call Social Security at 1-800-772-1213 and report the inheritance. They will tell you how your eligibility will be affected and what you can do to remain eligible.
People who are deaf or hard of hearing may call our toll-free TTY number, 1-800-325-0778, between 7 a.m. and 7 p.m. on Monday through Friday.