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Hi All,
I am the Representative Payee for my minor daughters SS benefits. My daughter receives benefits because my ex-wife is disabled.
I have been contributing to a UGMA account for my daughter. Is there a limit to the amount of money that can be in this account ?
The Rep Payee Handbook states:
A special note about SSI beneficiaries
To continue receiving SSI, a beneficiary must not have resources worth more than $2,000 ($3,000 for couples). We don’t count all resources, however, some items you buy could cause the beneficiary to lose their SSI benefits. Any money you don’t spend could also count as a resource. "
Can someone help clarify.
Thank you all for your assitance.