Annuity Impact on SSI for Brother with $700 Social Security Benefit

A person is considering setting up an annuity for their 65-year-old brother, who currently receives a monthly Social Security benefit of $700. The inquiry focuses on whether this annuity would affect his Supplemental Security Income (SSI). Given that SSI is a means-tested benefit, the introduction of an annuity could potentially impact the brother's eligibility. Understanding these implications is crucial for both the individual and their family when managing retirement income and benefits.

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