Imagine you have waited so long to win your Social Security disability case, and then are involved in a car accident. What kind of impact will a car wreck case have on your monthly Social Security benefits when the auto accident case is solved?
Generally, most types of Social Security cases will not be affected. But, some will be. In Social Security cases where benefits could be affected by resolving your injury case, there are things you can do to keep the sum of the settlement and your monthly Social Security income benefits.
- Special Needs Trust : A special needs trust can be established. This option is complicated and you need a lawyer who specializes in this area of law. Basically, it allows you to save money and have it administered by a trustee. This money can be used to pay for most living necessities other than food, rent or clothing. If you use it that way, money that is separated by the trust will not affect your Social Security benefits.
- Assign the money to other people: Often there is not enough money to cover or all the medical expenses and people involved in the accident. In these types of cases, you can allocate the money among those people in a way that reduces the impact on your Social Security case.
- Use the money: Money will affect Social Security benefits if you have more than $ 2,000. You can spend the money that comes from the accident in normal household expenses. And once the money runs out, it will not have an impact on Social Security benefits will not be affected.
If you have been involved in a car accident, and are receiving Social Security benefits, the law is very complex. We can help you. Call us today at 210-340-8877 and set up your free consultation.