QUESTION
How do I preserve benifits and still have access to inheritance?
Asked on Jan 01st, 2019 on Elder Law - California
More details to this question:
I'm 65 on SSDI and Medi-cal. I rec'd an initial amt of $1,800 and possibly will receive approximately $10,000 more from my Father's estate. I receive other benefits from CA as in extra-help on RX, food stamps etc. How much taxes?
1 ANSWER
2 Awards
While your SSDI should not be affected, some of your other benefits might. Open an ABLE Account (www.stable.org) and deposit the $10,000 in it. You and anyone else can contribute a combined amount of up to $15,000 per year. You will have direct access to the money. If you need to show that you are not spending it on food, shelter or cash which could be used for food or shelter, link it to a debit card from TrueLink Financial.
Answered on Jan 02nd, 2019 at 5:05 AM
This is general information. It cannot substitute for a personal consultation with an attorney. It is not intended to be legal advice or imply an attorney-client relationship.