A representative payee can be a person or an entity appointed by the Social Security Administration — usually a relative or close friend of the beneficiary. However, the Social Security Administration ...

The National Academies of Sciences, Engineering, and Medicine are private, nonprofit institutions that provide expert advice on some of the most pressing challenges facing the nation and world. Our ...

The SSA-11 form serves as a pivotal document for Social Security beneficiaries in the United States seeking to change their ...

Adam Hayes, Ph.D., CFA, is a financial writer with 15+ years Wall Street experience as a derivatives trader. Besides his extensive derivative trading expertise, Adam is an expert in economics and ...

When a Social Security beneficiary is unable to manage their own account, they can have a representative payee step in to manage the account for them. This typically happens when the beneficiary is a ...

In July 2025, the Milwaukee Journal Sentinel reported on a Wisconsin woman whose family feared her representative payee might have misused her funds. Representative payees are responsible for aiding ...

As if life were not complicated enough, if you are caring for an elderly parent who is no longer able to handle his finances or you are handling Social Security payments for your minor child, you may ...

Will Kenton is an expert on the economy and investing laws and regulations. He previously held senior editorial roles at Investopedia and Kapitall Wire and holds a MA in Economics from The New School ...

Many people know it is important to have a financial power of attorney so someone else can manage your finances when you are not able. What many people don’t know is that the Social Security ...