Im do to recieve a small inheritance from my uncle. He had no will, so according to the government his assets get devided between his blood relatives which means i will recieve something along with all my cousins and other uncles.How much out of my inheritance do i need to pay. I am on ssi because of aids.Thank you very much for your time in answering my question.
2 Answers from Attorneys
You may be able to set up a Special Needs Trust to hold the proceeds of the inheritance for your benefit. This would protect your benefits and allow a third party, who you designate, manage and spend the money for your benefit. If you would like to discuss this issue, please feel free to contact me at 1.877.MOHEBAN.
If you are collecting SSI you may want to disclaim your inheritance outright. SSI has strict rules for having assets on hand.
If you disclaim your portion of the inheritance, it will go to your next of kin... your children or parents depending on your family structure. If no kids or parents then it will go back to your cousins most likely.
Losing your SSI benefits may be harder than receiving the extra cash so you may want to consider disclaiming.
Please seek the advice of an attorney to ensure that your rights are protected.
I am sorry to hear that you have AIDS. I hope you are managing your condition well. Take care.