I may lose my ssi benefits

[nola l quas]

Jurisdiction

Washington

My mother just passed away but a few years ago she added me to her savings and checking account ( i helped her make sure bills were paid etc0 I could of gotten a bank card in my name but chose not to as it was my mother's money but i just found out yesterdy from her bank that because i was added to her account, it is considered mine now and i just received a letter from ssi that i may or will lost my benefits. I cannot afford to lose my benefits and i am not sure what to do. The amount left in my mothers account is a little under 100,00 but has yet to be divided between my brother and I. Once that is done as well as paying off her debts, it will be substancially less, so I just don't know what to do to protect my ssi.

 

[Zigner]

Based on your description, the money in the account is yours. You don't have to use it to pay off your mom's debts, and you don't have to share it with anyone. That is the position that the government is taking, and it is the correct position.

 

[nola l quas]

Based on your description, the money in the account is yours. You don't have to use it to pay off your mom's debts, and you don't have to share it with anyone. That is the position that the government is taking, and it is the correct position.

I am going to honor my mother's last wishes, I know that the money is mine, that isn't my concern what i am worried about is losing my ssi benefits, i cannot afford medical ex[enses, (i had to have one of my eyes removed a few years ago due to cancer and am sitll having to have treatment(

 

[Zigner]

I am going to honor my mother's last wishes, I know that the money is mine, that isn't my concern what i am worried about is losing my ssi benefits, i cannot afford medical ex[enses, (i had to have one of my eyes removed a few years ago due to cancer and am sitll having to have treatment(

Legally, you now have $100,000 (I'm assuming you meant $100,000 and not $10,000) to pay some of those expenses.

 

[Tax Counsel]

Legally, you now have $100,000 (I'm assuming you meant $100,000 and not $10,000) to pay some of those expenses.

And making substantial gifts to your siblings could also result in loss of SSI for awhile, too. Also, you'd need to file a federal gift tax return if you make total gifts to any one person during the year that exceeds $ 17,000. You'd have to make gifts of millions of dollars to have to actually pay gift tax, but you'd still have to file the return and that reduces the amount you can give away gift/estate tax free in the future. In any event, you want to keep at least enough money to pay your known upcoming medical bills.