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Can I Deposit Money From A Settlement In My Mother's Bank Account To Avoid Losing My SSI?
I'm on ssi and going to receive a setttlement over $2000, can i deposit it in my mothers bank acct to hold for me? To not affect my monthly check?
Hi,
No, that would essentially amount to concealing a resource, which is fraudulent. Your best bet is probably simply to be honest with Social Security and allow your SSI (Supplemental Security Income) payments to stop until such time as your assets drop below the $2,000 limit, but there may be other options. You may want to do some research on Social Security's website (https://www.ssa.gov/ssi/spotlights/spot-transfer-resources.htm), or discuss your options with an SSI specialist at Social Security.
Best, Jerry
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Posted:
September 2, 2017