Social Security Benefits
If you receive Social Security or SSI, you likely have already noticed that your check is slightly larger this year. The Social Security Administration provided a 1.3% cost-of-living adjustment (COLA) for benefit payments, which brings the federal SSI payment to $794. In addition, the amount that workers can earn before losing their eligibility for disability based on their work has increased to $1,310 for non-blind individuals.
Information About Your COVID Stimulus Check
Wondering when your stimulus check will come? You can track it at irs.gov/coronavirus/get-my-payment. If you filed a 2019 return and the IRS has your bank information, you will receive a direct deposit. If you did not file a 2019 return, you will receive your stimulus payment however you receive your Social Security benefits. Therefore, if you have a representative payee, they will receive the stimulus on your behalf, but are obligated to use the funds for your benefit. However, if someone else claims you, or could claim you, as a dependent on their tax returns, you are not eligible for a stimulus check. In addition, long-term care facilities cannot seize or demand the check even if your loved one is on Medicaid.
There was some confusion with the first stimulus check regarding deceased individuals. This time around Congress has stated that anyone who died prior to 2020 is not eligible for the benefit, but individuals who died in 2020 are eligible.
If you have questions about how to utilize your social security benefits or stimulus check for long term care for yourself or a loved one, beginning an estate plan based on future goals, or any other elder law questions – schedule an appointment today! I am here to help you navigate our ever-changing world of late. Let’s make sure you have a plan in place that works for you!
Bob Michaels is extremely passionate about providing the best possible legal experience for his clients, and focuses his practice on elder law, estate planning, business, and real estate matters. Bob has been able to provide piece of mind and a solid foundation to many folks in the Puget Sound area over the years and wants to provide resources and relevant information whenever he can.