Are you thinking about starting to collect your Social Security retirement benefits soon? When the parent of an SSI recipient retires, there may be an opportunity for the child to apply for Social Security Disabled Adult Child Benefits (DAC) based on the earnings record of the parent. This can be highly beneficial because (1) the benefit may be higher than SSI, (2) the child can receive Medicare after 2 years, and (3) there is no asset limit. http://www.ssa.gov/dibplan/dqualify10.htm#age22
To be eligible for DAC benefits, you must be able to prove that prior to age 22, your child met the criteria for Disability under Title II of the Social Security Act. If the child began collecting SSI at age 18 — as do many children who have intellectual developmental disabilities — there should be no proof problem. However, if the individual began collecting SSI after age 22, you will need to prove that the child met the criteria before age 22 even though they didn’t start receiving SSI until later on. EN-05-10026
In a previous post I wrote about the necessity to save the medical records for disabling conditions that begin in youth because they may be crucial should your child remain disabled at the time you retire.
As you begin planning for retirement, go with your child to the local Social Security office and investigate the options to transfer from SSI to DAC. Keep in mind that no change occurs until the application is actually filed.
Call for an appointment concerning retirement & estate planning … 732-382-6070