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#2215096 - 06/06/19 02:12 PM Naming a POD on a Representative Payee Account
Jo Offline
Member
Joined: May 2009
Posts: 75
Can a Representative Payee add a Trust Account as the beneficiary of the Representative Payee Bank account?

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#2215098 - 06/06/19 02:14 PM Re: Naming a POD on a Representative Payee Account Jo
rlcarey Offline
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rlcarey
Joined: Jul 2001
Posts: 83,605
Galveston, TX
Allowable POD designations are a State law issue.
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#2215143 - 06/06/19 04:38 PM Re: Naming a POD on a Representative Payee Account Jo
P*Q Offline

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P*Q
Joined: May 2001
Posts: 8,458
Somewhere
I think that's why they posted in the MA forum to see if anyone form MA knew. I personally don't know. You could reach out to MA Bankers Assoc, they can probably help.

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#2215155 - 06/06/19 05:08 PM Re: Naming a POD on a Representative Payee Account Jo
rlcarey Offline
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rlcarey
Joined: Jul 2001
Posts: 83,605
Galveston, TX
Well - duh - sorry, I didn't even see that this was in the MA State - my humble apologies.
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The opinions expressed here should not be construed to be those of my employer: PPDocs.com

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#2215208 - 06/07/19 11:50 AM Re: Naming a POD on a Representative Payee Account Jo
John Burnett Offline
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John Burnett
Joined: Oct 2000
Posts: 40,086
Cape Cod
Representative Payee accounts are a form of fiduciary account that's created under and to some extent limited by Social Security Administration rules. In general, a fiduciary doesn't have the authority to make gifting decisions (absent specific authority given in, for example, a power of attorney). Gifting decisions are not included in the SSA's description of a Rep Payee's actions.

Add to that the fact that the beneficiary of the SSA funds is not necessarily incompetent under state law, and, if not incompetent, would have the right to name his/her own POD beneficiary for funds under his/her own control. But the Rep Payee account is not under the SSA beneficiary's control, so that route is blocked.

With that as background, I'd say it's not something that can be done. The SSA beneficiary whose funds are in the Rep Payee account should discuss the question with competent legal counsel.
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