Supplemental Security Income (SSI) is a monthly payment issued to disabled children and adults who have income and resources that are under an amount set by the Social Security Administration (SSA). There are many important factors that determine your eligibility for SSI. SSI recipients are responsible for reporting changes to the SSA when they happen. The following are three examples of what must be reported by SSI recipients.

The Social Security Administration has announced that its beneficiaries will see a significant increase – totaling nearly 9 percent – in their monthly Social Security checks come January 2023. This cost-of-living adjustment (COLA) is the largest boost to Social Security benefits in more than 40 years. The increase for 2022 was 5.9 percent.

Supplemental Security Income (SSI), which helps support millions of limited-income people with disabilities, will provide recipients with a slightly higher payout – on average, $73 more a month for individuals and $110 more a month for couples – beginning on December 30, 2022.

The U.S. Department of Health and Human Services (HHS) has recently started to focus on finding ways to support family caregivers by assisting them with resources to maintain their health, well-being, and financial security while they act as caregivers. As part of this, it has announced the implementation of a 2022 National Strategy to Support Family Caregivers.

HHS estimates that approximately 53 million people provide a broad range of assistance to their aging, health-compromised, or disabled loved ones each year. Millions more open their homes to grandparents as well as children who cannot live with their parents.

Supported decision-making can be an alternative to unnecessary guardianships. It allows disabled people to get assistance with decisions while retaining autonomy. In supported decision-making, trusted persons can advise an individual with a disability, while the individual ultimately retains the final decision-making power about their own care and life.

November will mark National Family Caregivers month. Studies show that looking after those with special needs exacts a toll on caregivers. This Thanksgiving season, shift your focus a little and remember that you must take care of yourself if you want to continue caring for others.

As the saying goes, “you can’t pour from an empty cup.” If you have been a caregiver for a loved one with a disability or chronic illness, ensure that you are healthy physically and mentally. Here are five tips that can help you prioritize self-care.

At Southpoint Estate Planning we are dedicated to serving our community. We understand that the financial burden can oftentimes deter people from seeking the guidance they may need for some of life’s most challenging moments. We sincerely hope that our clinics can provide an opportunity for those folks to get the advice and resources to help with their circumstances.

We host quarterly pro bono clinics that cover a variety of topics such as Elder Law, Special Needs Planning, Wills and Trusts, Powers of Attorney, Health Care Powers of Attorney, and Guardianships.

Newly introduced legislation may soon alleviate a challenge families sometimes face when planning for a loved one living with disabilities. In general, any funds left to such a beneficiary should be left in a special needs trust. This can get a bit complicated when the funds to be passed on include an IRA or other form of retirement plan, especially for those families who may wish to name the charitable organization that provides services for their loved one as a second beneficiary to such a trust.

Many relatives or caretakers of loved ones living with a disability may at some point need to be able to exert more control over their family member's personal affairs. For parents of children who have a disability, for instance, that time is often when the child is turning 18. However, you may face roadblocks if you have not filed paperwork that allows you to do so. Banks, agencies, and hospitals may push back on your ability to make decisions that can impact the care of your loved one, which can be very frustrating.

Affordable, safe housing is one of the most crucial aspects of a person’s life, especially if that person has a disability. Parents and guardians must plan for this as early as possible to make sure their loved one has a secure and appropriate living situation long after they either become unable to provide care or pass away. Here are some general considerations to keep in mind when formulating a plan. The plan that works best for your family should be affordable in the long term and best suited to your loved one’s disability.

To qualify for Supplemental Security Income (SSI), a federal program that provides people with disabilities a monthly stipend, individuals must conform to very strict income and asset limits. Often, SSI beneficiaries who could hold a job opt not to because they worry about losing their benefits if they earn too much. While this is a valid concern, a program known as PASS offers these individuals the opportunity to pursue their professional ambitions while continuing to receive SSI payment.

If you have a child with disabilities, it is crucial to set money aside for the child’s future. At the same time, you need to consider your child’s access to public benefit programs such as Medicaid and Supplemental Security Income (SSI), as well as the state and federal tax implications. The two major vehicles to accomplish these goals, ABLE accounts and special needs trusts (SNTs), each have their advantages and limitations. Using them in tandem may be the optimal strategy for your child with special needs.