Releasing Funds to Rep Payee

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Question:

We had a rep payee pass away recently, and another individual (not the beneficiary) came in wanting to access the funds for her nephew (the beneficiary). What documentation should we require before releasing the funds?

Answer:

Upon the death of a representative payee you would release the funds to someone who provides you with evidence that he or she had been appointed as the new representative payee.

First published on BankersOnline.com 9/13/10