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Can POA Designate POD for SS Rep Payee Account?

Answered by: 

Question: 
Can a Power of Attorney designate POD for a social security representative payee account?
Answer: 

No. The representative payee controls the account and those funds can't be used for anything other than the SSA beneficiary's personal financial needs. An attorney-in-fact would not be able to do anything with the account.

First published on BankersOnline.com 4/2/12

First published on 04/02/2012

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