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Could an injury settlement stop my SSI benefits?

If you receive supplemental security income, you probably know that there are income level requirements. Various types of income might qualify for calculating whether you are eligible for SSI.

Some Georgia residents who accept personal injury settlements or receive court awards find that their social security income is threatened. Depending on your situation, there could be a way to maintain your disability benefits well still getting the money you need to put your life back together after an injury.

There are certain types of financial planning that could help you maintain income for medical bills and other glitter shoes well still maintaining eligibility for SSI. However, it is important to look at these solutions from a position of understanding of various related legal topics. For example, protecting assets in one way could open them to risk in other ways.

The AARP mentions another issue other than income that could affect your SSI benefits: countable resources that you could turn into cash easily. Examples provided in the AARP article include stocks and bonds. In order to qualify for SSI, you would probably have to maintain both your income and your resources on hand at relatively low levels. However, that does not mean that you should forgo accepting the resources you need to put your life back together. 

Your case is unique, so do not give up on your SSI based on this or any other general information. Remember that informative articles such as this should not be a substitute for legal advice.