QUESTION
Must a large sums of SSA always be in a dedicated account
Asked on Feb 18th, 2015 on Social Security - Ohio
More details to this question:
My child's father recently died and she began receiving monthly survivors benefits. Last month, a huge sum was deposited into my account. I have not received a letter regarding the handling of this money.(and it's been nearly a month) I called SSA, and they've given me little information. I was told it was back pay from 2008 (that may be when her father began collecting ssi). That's it. They can't even tell me how to spend it. My child is not disabled.
1 ANSWER
Based upon your inquiry, the money is the funds due to your daughter as a minor dependent child of her father. If your duaghter is still a minor, then you are the custodian of those funds for her benefit. This is a very nebulous term. The money should be held in a separate account and you should keep a record as to how the funds are spent -- keep receipts. When your daughter turns 18, the funds are hers with no restrictions.
As long as the funds are spent for her benefit and well-being, there are no restrictions. These funds have nothing to do with disability and are akin to child support.
Answered on Feb 23rd, 2015 at 7:16 AM
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