“Thought for the Day” #840 – by Stephen R. Elville, J.D., LL.M.

November 7, 2016

The maximum federal Supplemental Security Income (SSI) rates effective January 1, 2017 are as follows:  $735.00 per month for individuals; and $1,103.00 per month for couples.  This $2 per month cost of living increase for individuals ($3 for couples) is illustrative of the economic circumstances SSI recipients live under, especially considering that the SSI benefit is means tested (recipients can possess only very limited assets).  Where possible, the implementation of estate planning strategies for the benefit of these disabled individuals by parents, grandparents, and others is essential for their future.