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Thread: Join bank account and SSI benefits

  1. #1
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    Join bank account and SSI benefits

    Hey everyone, my dad has the idea that he can have a savings account in his name for money that I can use while I am getting SSI. He and I have a joint bank account, and so far, he took 2,500 bucks from me and put it into that savings account. My worry is if he transfers that money back into my account, my SSI payments will be lower per month. If this lowers my income, how do I rectify this situation? I am angry that dad took the money from my account without my approval first. I want to get as much SSI as I can, and I'm afraid my dad is jeopardizing that. Nobody has guardianship over me, and I manage my own money. Opinions anyone?

  2. #2
    Platinum Member tiredofvampires's Avatar
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    Which account did he take $2500 from that was yours, to put into the joint account? It's very confusing to me, because if you have your own account, he can't withdraw money from that without your consent to put into a joint account; and if he took money from your joint account to put into that same account which you share, that makes even less sense. Unless I'm missing something.

    If you have a joint account, unless you have already reported this to the federal government when they approved your SSI, this alone could jeopardize your benefits, to my understanding of how the system works. Someone else's income being jointly shared by you would count as an asset, and that would lower your benefit amount or disqualify you. Any money that you are earning or someone is giving you will count against you.

    If you loaned him money, and he paid you back, that would not count against you (though you're not supposed to have enough money to loan a person -- loaning someone $2500 while on SSI would raise some eyebrows.) But to pool resources means you may be getting extra unearned income, and that would count against you. When they determine your SSI eligibility, they are looking at your income and your income alone.

    I strongly urge you to get your own separate account in your name only.

    I'm not an SSI/SSDI lawyer, so you should consult with someone like this, perhaps. But you have to keep his and your funds officially separate, as far as I know.
    Last edited by tiredofvampires; 09-02-2012 at 01:11 AM.
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  3. #3
    Platinum Member Miss Firecracker's Avatar
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    If your dad puts that money into an account with YOUR name on it, then you are at risk of losing your SSI.

  4. #4
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    I am also realizing that hiding a savings account by having my dad's name on it alone is fraud if I am using the money with my dad's help. That is wrong, and I wasn't thinking! I'm having my dad pay that money to my student loans, and I won't use any of it for anything else! I don't want to be charged with fraud and have a record! As for the 500 he just took out, I'm gonna have him use that for my rent, bus ticket, and food. By the way, my dad didn't need the money, he was trying to help me by saving money for me. I asked around, and did some research, and realized this situation would hurt me more than help me! I will be taking mom and dad's names off my account, closing it, and opening a new account in just my name.
    Last edited by fresaartistica; 09-02-2012 at 03:26 PM.

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