Glossary S

secured creditor – A creditor who has an ownership interest in property until the debt is paid. For example, a bank will often have an ownership interest in a car until the loan is paid off or in a house until the mortgage is completely paid.

security deposit
– A sum of money, usually given to a landlord at the beginning of a lease, to protect the landlord in the event that the tenant damages the property or breaks the lease.

self-proving will – A will which has affidavits attached to it certifying that the testator was of sound mind.

Specified Low-Income Beneficiary (SLIMB) – A Medicare recipient who qualifies for one of several Medicare savings programs, also including QMB and QI, that help the recipient pay the costs of Medicare. The state pays a SLIMB’s Part B Medicare premium.

Social Security Disability Insurance – Payments given to individuals unable to work due to illness or injury.

Social Security Retirement Benefits – Cash benefits given to retired workers, their dependents and survivors as part of a federal social insurance program administered by the Social Security Administration.

spend down – An amount that an individual must spend on his or her own medical care, beyond which Medicaid will pay for the medical bills incurred. Spend down is similar to a deductible except that each individual’s spend down is based on his own income and medical expenses. A person’s spend down amount is calculated every six months.

springing power of attorney – A power of attorney that essentially “springs” into action once an event occurs, usually the person’s incapacity.

sublet – To transfer a tenant’s interest in rental property to a third person for a period of time shorter than the lease term. After the sublease ends, the interest reverts back to the tenant.

Supplemental Security Income – (SSI) A need-based federal program of cash assistance for aged, blind, and disabled individuals who have little income and few assets.

Surviving Spouse Benefits – See widow’s benefits.

survivorship – Where one person becomes entitled to property by reason of his having survived another person who had an interest in it, without having to go through probate. Joint tenants and tenants by the entirety are entitled to the right of survivorship. This is often, but not always, the way married couples in West Virginia own property.