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Lane
Lane, JD,CFP, MBA, CRPS
Category: Social Security
Satisfied Customers: 10142
Experience:  Law Degree, specialization in Tax Law and Corporate Law, CFP and MBA, Providing Financial, Social Security & Tax advice since 1986
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My rep payee has a joint account (checking) and now they are

Customer Question

My rep payee has a joint account (checking) and now they are saying that in order to verify my assets they need the balance on this account and the last statement. I have NO say so in this account except to be given my social security check he uses it for big amounts and they said they are using that to sum up my assets and my social security and medicaid will be cancelled.
Submitted: 5 months ago.
Category: Social Security
Expert:  Lane replied 5 months ago.

That is absolutely incorrect.

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Things HAVE become so bad at Social Security (on the front lines) that we have taken to sending the POMS (Program Operations Manual) with our clients to meetings)

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Your task at this point is to document that this was NOT segregated in a different account (which really would have been the best practice) and account for the dollars correctly, Show what dollars were sent and then used for food, clothing, shelter, etc.

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The requirement are essentially this:

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The payee must establish some form of accounting system that will track the following information for each beneficiary/recipient:

  • How much money was received
  • How much money was spent
  • The balance saved, if any

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Here's a ledger that they provide for just this purpose:

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https://www.ssa.gov/kc/forms/ledger.pdf

Expert:  Lane replied 5 months ago.

See this - and do not hesitatate to show them this (from https://www.ssa.gov/kc/rp_fundsrecords.htm)

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Using Funds And Keeping Records

Using Funds

The most important duty of a representative payee is to know the needs of each beneficiary/recipient for whom they are payee and to use the payments they receive in the best interest of that beneficiary/recipient. As a payee, all payments received from the Social Security Administration (SSA) must be used for the individual's current maintenance needs or saved for future needs. Current needs include:

  • Food
  • Housing
  • Clothing
  • Medical care
  • Personal comfort items.

NOTE: A payee should not sacrifice current maintenance needs to pay other expenses, or conserve, invest, or accumulate money for a future purpose.

Keeping Records

Representative payees are required to maintain detailed and accurate records of all funds received and spent in order to provide a true accounting to SSA. A detailed record of expenditures may include:

  • Receipts
  • Bank statements (including electronic versions)
  • Leases (rental agreements)
  • Cancelled checks (including electronic versions)
  • Bills
  • Invoices
  • Statements signed by the claimant confirming receipt of funds for personal use
Expert:  Lane replied 5 months ago.

You might also point out that assuming that the payees own assets are yours is a an error of property law.

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If the account is jointly owned, then 1/2 of that account cannot be attributed to you.

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But again MUCH MORE IMPORTANT is that you show that you have the records to show how the dollars were spent.

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Setting aside a separate account is a best practice but not a requirement, as long as proper accounting is done.

Expert:  Lane replied 5 months ago.

I hope this has helped. … Please let me know if you have any questions at all.

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If this HAS helped, and you DON’T have other questions … I'd appreciate a positive rating (using the faces or stars on your screen, and then clicking “submit")

JustAnswer will not credit me for the work unless you do.

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Thank you!

Lane

I have a law degree, (Juris Doctorate), with concentration in Tax Law, Estate law & Corporate law, an MBA, with specialization in financial accounting & tax, a BBA, and CFP & CRPS designations, as well - I’ve been providing financial, Social Security/Medicare, estate, corporate, non-profit, and tax advice, since 1986.

Expert:  Lane replied 5 months ago.

Questions?