If You Inherit a Home Will Your Texas SSDI Benefits Be Impacted?Texas Legal News
A lot of people inherit property including individuals who are disabled and receiving Social Security Disability benefits in Texas. If you are currently receiving Texas SSDI benefits and a relative passes away leaving you a home, it is reasonable to wonder if taking the property will be damaging to your ability to continue receiving your benefits. This is a valid question, and to better understand what your rights are and how your benefits are impacted by any life changes, Brad Thomas is a Plano SSDI attorney that can answer all of your questions and keep you informed.
Will Inheriting a Home in Texas Impact Your SSDI Benefits?
The purpose of SSDI in Texas is to help qualified individuals who are disabled as identified by the Social Security Administration with their finances. When you are disabled and you are unable to work, you have no way of earning an income. Individuals that have a work history and either come upon a debilitating disease or physical condition that prevents them from being able to work in any capacity may be able to obtain Social Security Disability benefits in Plano, Texas.
Social Security Disability benefits are designed to protect individuals that find themself in an illness or injury situation who are not yet at retirement age. SSDI benefits are dispensed to individuals that have a specific work history and have amassed credits from their years at work. The personal property you have is not considered by the SSA when it comes to your SSDI benefits. This would include property that you would inherit. There is a cap on how much a person getting SSDI can be actively earning, which as of 2021 is $1,276. As long as you don’t have income that exceeds that amount, what you own should not change the benefits you receive. Therefore, inheriting property will not impact your SSDI benefits. It is possible and lawful to be both receiving benefits and also have more than one home.
The caveat to this situation is if you use your inherited property as a source of income. For example, you may decide to take the property and rent it out. Should the money you get from renters be more than your Social Security limit, then you may see a change in your eligibility for benefits. It is important to understand how inherited property may affect your benefits and how your actions with that property may change your SSDI. Working with the Brad Thomas Law Office, a Plano SSDI law firm, is a good way to get the legal counsel you need before you make certain decisions that could have an effect on your benefits.
Speak with a Texas SSDI Attorney Today
Leaving property like homes to family members when there is a death is a very common way to pass down wealth. If you have a loved one that has died and you are the recipient of their home while you are either receiving SSDI benefits or are actively pursuing benefits it is worthwhile to speak to a Texas SSDI attorney to ensure that your benefits are not negatively impacted. Call the Brad Thomas Law Office to schedule a free consultation with regard to your Texas SSDI claim at (972) 863-2367.