Beyond the Money-Tip of the Week!

July 15, 2020

SSA.GOV – Advance Designation

If you become unable to manage, or direct others to manage, your benefits in the future, you will have peace of mind knowing that someone you trust may be appointed to manage the benefits for you.

It is optional, and you can update or withdraw your advance designation at any time.  If you choose to participate, we will send you a notice each year listing your advance designees for your review.

Social Security does not recognize Power of Attorney for negotiating legal payments- You must still apply to serve as his/her payee.

Capable adults

Emancipated minors

S/S Benefits

Social Security Income

Special Vet Benefits

Advance Designation allows you to choose an individual(s) you deem has genuine concern for your well-being to manage your benefits should the need arise.

If you are receiving benefits, you may advance designate at any time. Advance Designation is voluntary.

You may submit or change advance designations:

-By phone 1-800-772-1213 (TTY 1-800-325-0778)

-Online through your personal my Social Security account (https://www.ssa.gov/myaccount )

-In person at your local field office (https://www.ssa.gov/locator)

-By Mail using Form SSA-4547-Advance Designation of Representative Payee

Disclaimer: Campbell & Company 2020-The information in this document is general in nature and the information is changing rapidly and there may be updated information as it becomes available from federal, state and local governments. We inform you that any tax advice contained in this communication (including any attachment) is not intended to be used, and cannot be used, for the purpose of avoiding penalties or promoting, marketing or recommending to another party any transaction or matter addressed.

Sign up for our newsletter to get updates to your newest tools, events, and other financial resources.

Click here for MY REDZONE RETIREMENT MASTER PLAN