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SSA vs. SSI - Your Benefits

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SSA vs. SSI - Your Benefits

  1. 1. SSA vs SSI—YOUR BENEFITS SOCIAL SECURITY: PAYOUTS VARY Social Security (SSA) guarantees income in old age if you or your spouse worked approximately 10 years. If you take benefits before full retirement age, they are reduced based on your age and whether you continue to work. Wills & Estate Planning  Probate & Administration Tax Planning  Business Succession  Elder Law
  2. 2. SSA vs SSI—YOUR BENEFITS SSI: THE WELFARE SAFETY NET If you do not qualify for SSA benefits and are over 65 or blind or legally disabled, you may qualify for Supplemental Security Income (SSI) to help you maintain a minimum standard of living. Wills & Estate Planning  Probate & Administration Tax Planning  Business Succession  Elder Law
  3. 3. SSA vs SSI—YOUR BENEFITS SSI RESTRICTIONS AND BENEFITS SSI eligibility is based upon income and resources excluding your home and car (less than $2000/$3000 for single/couple). Earn less than $710 per month and SSI will boost your income to that amount. Wills & Estate Planning  Probate & Administration Tax Planning  Business Succession  Elder Law
  4. 4. SSA vs SSI—YOUR BENEFITS ADVANCE PLANNING IS KEY If you haven’t gotten a statement from Social Security about benefits eligibility, do so now. Working more or longer can ensure better benefits later. An elder law attorney can help ensure you enjoy maximum benefit. Wills & Estate Planning  Probate & Administration Tax Planning  Business Succession  Elder Law

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