Strategies for Mitigating the Impact
To minimize the impact of a workers’ comp settlement on food stamp eligibility, it’s crucial to manage income and assets effectively. One strategy is to spread the settlement funds over time. This can help avoid exceeding the income limits for food stamps and ensure continued eligibility.
Additionally, investing a portion of the settlement in exempt assets, such as a primary residence or retirement accounts, can protect these funds from counting towards food stamp eligibility.
Seek Legal Assistance or Financial Counseling
Seeking professional guidance can be beneficial in navigating the complex legal and financial implications of a workers’ comp settlement. Legal assistance can help ensure that the settlement agreement protects the individual’s rights and interests. Financial counseling can provide valuable advice on managing the settlement funds and minimizing the impact on food stamp eligibility.
