The pension through Motion Picture health and welfare just informed her that she now has to do something with her money. There is a one lump sum of 12 grand and then she will get a monthly payment of $150. If the housing authority finds out then she will lose her assistance. What do we do with the one lump sum of money... put it in an IRA account?? Do we put it in a trust account??? She had always planned on that money for her children after she died. But now we know that won't happen. So because she has to do something with the one lump sum and the monthly payments we are thinking that she will lose her housing assistance and we will have to move. We do not know what to do. I hope someone has an answer or can guide us in the right direction. Thank you Dianesquest

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Meet with the housing authority ASAP and straighten this out. As long as you have been honest with them about the asset, they will work with you.
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Section 8 housing IS for people in need, not someone with $12K in assets. I would do some research to determine the best financial product she can purchase that will yield results and income on which she can rely in the future, something like a widows and orphans stock.

I take it you're living with her in the Section 8 housing? If so, then this is a boon for you as well, correct? If you want to stay together, pool what money you have as well as the $150 she'll get and find a moderately priced place to live.
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