Social Security is a large system that is difficult to navigate! This session will go into more detail about the pitfalls of the In Kind Maintenance and Support (ISM) rules. These are specific to the SSI program and are often problematic for families. We will also cover the overlap between distributions from Special Needs Trusts and ABLE accounts, and how each might affect ISM. Join us for this indepth workshop on social security!

Presenters:
Alicia A. Albus, Attorney at Mitchell, Brown & Associates, LLC
T. Nikki Mitchell, Certified Elder Law Attorney, Mitchell, Brown & Associates, LLC

Please email [email protected] if you would like to receive a copy of the handouts from this event.

0:00:00 Introduction
0:01:11 Basics of Supplemental Security Income (SSI) Rules
0:03:49 What does "needsbased" mean when it comes to SSI?
0:05:58 SSI and earned income
0:07:17 SSI and unearned income
0:08:03 How does income reduce SSI benefits?
0:09:45 What is InKind Support and Maintenance (ISM)?
0:11:44 Value of onethird Reduction Rule (VTR)
0:13:19 Presumed Maximum Value Rule (PMV)
0:15:01 How do we stop a reduction in benefits?
0:16:19 Rental Contracts (shelter only)
0:20:02 Room and Board Agreement (shelter and food expenses)
0:27:56 How ABLE Accounts transactions affect ISM
0:30:14 Know the expenses, categorize them, and make a plan to avoid reducing benefits
0:34:17 Example: Adult lives in a house their grandparents bought for them
0:40:57 Are homeowners or condominium association fees considered household expenses?
0:42:21 What if taxes and insurance are paid in one lump sum?
0:44:42 Example: Young adult living at home with their parents, just approved for SSI but still in school until age 21
0:47:23 Does it matter that the young adult is still in high school?
0:48:15 Does it matter if they put the SSI funds into an ABLE account?
0:49:44 Does the VTR of PMV rule apply in this case?
0:50:43 Why does Missouri have specific rules for SSI?
0:52:01 How to tell Social Security that a room and board agreement is in place
0:53:20 Most effective way to send information to Social Security
0:54:38 Do ABLE account deposits by parents affect SSI?
0:55:27 How does charging rent affect the parents' taxes?
0:57:29 Can the adult child pay rent but still be claimed as a dependent on their parents' taxes?
0:58:00 Can the Childhood Disability Benefit percentage be changed?
0:59:37 Are there things that SSI money can't be used for?
0:59:54 Will claiming a person as a dependent affect their SSI payment?
1:00:18 Can you still charge rent when the mortgage is paid off?
1:01:18 Do SSI payments start based on the approval date or application date?

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