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emc011075
emc011075, Tax Adviser
Category: Social Security
Satisfied Customers: 3173
Experience:  Tax adviser IRS licensed Enrolled Agent and tax instructor
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My husband is retired and recieved social security income.

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My husband is retired and recieved social security income. We have 2 children who recieve it as well. Recently I heard when they turn 18 if they have any of that money in savings they have to pay it back. Is this true? If so what can we do with the money so that our children will have it and not have to pay it back?

Hi Susan. My name is ***** ***** I will be happy to help you.

This only apply to SSI (supplemental security income) benefits, not to regular social security benefits. The reason is that at 18 the child may qualify for his or her own SSI benefits so the benefits received prior 18 must be spent or in child's name. SSA basically wants you to send back all unused benefits so they can turn around send it back to the child. If the benefits are deposited into your children's savings accounts, or investment/education account, you do not have to repay anything.

Customer: replied 9 months ago.
Thank you so much!

You're welcome. Is there anything else I can help you with today?

emc011075 and other Social Security Specialists are ready to help you
Customer: replied 9 months ago.
Nope, thanks