How Assets Are Considered For Supplemental Security Income and SSDI

When you’re applying for SSI and SSDI, make sure your assets don’t exceed the allowable limits.

Getting monthly checks from the Social Security Administration for Supplemental Security Income (SSI) or Social Security Disability Insurance (SSDI) could make all the difference in the world to you. With it, you could pay your bills and feel much more secure about your financial situation.

However, you’re afraid you may not receive benefits because you have too many assets. Learn about the asset limits, and then contact an SSDI and SSI lawyer for assistance.

Assets and SSI

When it comes to SSI, you cannot have more than $2,000 in countable assets if you’re applying as an individual, or no more than $3,000 if you’re applying as a couple. Assets that are not counted include the home you live in and the land it’s on, one vehicle if you or a member of your household is using it for transportation, life insurance policies with a combined face value of $1,500 or less, and burial plots for you or your family members.

Assets and SSDI

When it comes to SSDI, there are no asset limits. This is because SSDI is a program you pay into. It’s not like SSI, which is needs-based. However, if you earn too much in wages from a job, you will not be able to receive SSDI. You cannot make more than $1,350 per month working at a job in order to qualify for SSDI.

Working With Schott Law

If you need help with your SSDI or SSI, Schott Law is here for you. Maggie Schott is an SSDI & SSI lawyer serving Washington and Idaho. Contact us now at (509) 328-5789 to start your application.