Social Security Disability FAQs
I am disabled, but I have plenty of money in the bank. Do I have to wait until this money is gone before I apply for Social Security disability benefits?
SSDI Benefits:
No. If you are applying for SSDI, Disabled Widow’s or Widower’s benefits or Disabled Adult Child benefits, it does not matter how much money you have in the bank. There is no reason to wait to file the claim.
Your assets may affect your ability to apply for SSI.
SSI Benefits:
If you are applying for SSI, there are limits on the value of assets you can own, so any property, cash, stocks, etc. that you own may prohibit you from receiving SSI benefits.
A common problem people face is owning more than one car or motorized vehicle. This counts in your assets, and if it exceeds the current amount of assets you can have, you won't qualify for SSI until you dispose of it.
DISCLAIMER-These FAQs are a public resource for general information. These questions and answers have been prepared by Spencer & Spencer for informational purposes only and are not legal advice. No client or other reader should rely on, act on, or refrain from acting based on information contained in this website without seeking appropriate legal or other professional advice.
Our law firm handles all types of claims for Social Security Disability - Social Security Disability Insurance, Supplemental Security Income, children's Supplemental Security Income. We also handle appeals - to the Appeals Council and Federal Court.
If you want to speak to a lawyer in Colorado Springs about your disability case, you have several options-you can fill out our online case evaluation form, call us, or e-mail us, and a Colorado Springs attorney will evaluate your case for FREE.
We have many clients from around Southern Colorado and the Western Slope including Alamosa, Buena Vista, Denver, Castle Rock, Colorado Springs, Durango, Grand Junction, Salida, La Junta, Lamar, Monument, Pueblo, and Walsenburg.
Our attorney has helped thousands of people get the benefits they deserve. We look forward to serving you!
