hockeysaki wrote: The Social Security benefits are actually my half-brother's because he is a minor, but I am caring for him since our dad passed away. So it's actually his money, but it is going into the joint account until I am granted guardianship of him and can set up a separate account for that money.
Social Security Administration wrote:Social Security's Representative Payment Program provides financial management for the Social Security and SSI payments of our beneficiaries who are incapable of managing their Social Security or SSI payments.
Generally, we look for family or friends to serve in this capacity.
hockeysaki wrote:sscritic - you're correct. I am the representative payee for my half-brother. Prior to my dad's death, my dad was the representative payee for my half-brother, whose mother passed away several years ago. When our dad died, I went to the SSA office and became the representative payee. The SSA sent me a letter saying "___ should keep the old account open until the first benefit payment is credited to his new account." This is one reason I have not opened an account up yet. The other is that I was mistaken in thinking I had to be the guardian to open up an account. Thanks for correcting that. I have received that first payment and plan to open up an account this week.
SSA wrote:The Social Security Act provides that a child entitled to child's benefits on more than one SSN will receive benefits on only one. That child is actually entitled (paid) on one SSN and “technically entitled” on the other.
djw wrote:Don't co-mingle; Don't commit fraud.
You're on shaky legal ground using a single checking account to handle multiple legal roles. Depositing checks written to your late father AFTER his death, even if you don't forge his signature on the back, can be considered fraud. Co-mingling funds can leave you open to charges of embezzling money from Peter to pay Paul. You don't need that kind of trouble.
You need to stop what you're doing, file with the IRS for ID #s, open separate accounts for each legal entity (Estate, Trust, Guardianship, your Personal funds), return checks payable to your father and have them reissued to the Estate or the Guardianship for your Half-Brother, etc.
I'm sure you can say that you're keeping careful track and know what money belongs to what entity, but courts HATE co-mingling. It's never a good idea and can only put you in legal jeopardy down the road. Stop now and get everything straight before you get in any deeper. The I-didn't-know-any-better defense will only take you so far.
Users browsing this forum: Google [Bot], mike_slc and 22 guests