Legal Question in Social Security Law in Pennsylvania
social security disability
If my mother has savings bonds in both my name and hers, can she cash them with no penilties
1 Answer from Attorneys
Re: social security disability
If you are asking about a penalty with the savings bond, I cannot answer that.
If you want to know if a Social Security benefit will be effected, it depends of what kind of SS benefit you or she is receiving. I cannot tell from your question which benefit it is and who is receiving it, you or your mother. You do not state the dollar amount of the bond, which may be an issue.
Retirement, disability or survivors benefits will probably not be effected.
SSI benefits may be effected (reduced) if you have any asset or resource over a certain dollar amount. A savings bond is an asset and when cashed in, the money is also an asset. For SSI You are required to disclose your assets, so if the benefit is SSI, you should have already told the SSA about the savings bond.