Can POA Designate POD for SS Rep Payee Account?

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Question:

Can a Power of Attorney designate POD for a social security representative payee account?

Answer:

No. The representative payee controls the account and those funds can't be used for anything other than the SSA beneficiary's personal financial needs. An attorney-in-fact would not be able to do anything with the account.

First published on BankersOnline.com 4/2/12