Foxy-Lady
Level 3
09-24-2021
03:04 PM
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The father is now receiving SSI. So, his 2 daughters are now receiving Social Security funds too. Their mother has been made the Representative Payee for both girls. Each girl will receiving $543 per month.
1) How do you determine how much rent/food do you charge each girl?
2) As for clothing that is easy.
3) I think both girls receive Mi-Child
4) You are allowed so much for miscellaneous stuff.
5) Funds leftover are allowed to be put into a savings account under each girl's name.
Will any of these funds be considered taxable income to the Representative or an individual child?
Can the representative use a 529 to set aside any extra funds.
Thank you for any assistance.
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