In Parents as Representative Payees, Elaine covers the rare cases where a child might become entitled to Social Security benefits—and
how their parents are expected to manage the money. The consequences for mismanaging this money may be serious.
Your clients may encounter this issue. You are free to copy and paste the entire article for your client communications. However, please understand that it has not been FINRA reviewed,
and remember to give proper attribution (article by Elaine Floyd, CFP®, Director of Retirement and Life Planning, Horsesmouth). If you have any experiences to report about parents acting
as representative payees, please pass them on to socialsecurity@horsesmouth.com.