On Fri, 11 Jun 2004 19:17:50 CST, "MTW" <mtwingcpa[at]yahoo.com> wrote:


- quote -

SS should be able to confirm this via a quick phone call. On the
other hand, you could spend the child's SS money for the child now,
and then place what you would have spent from your money into an
investment of your choosing - including one that has restrictions.

But Mike Wing is correct - the SS is not your money and you cannot
place restrictions on it (beyond what the law provides already).

-HW "Skip" Weldon
Columbia, SC

Theron Mann wrote:

- quote -

Since it sounds like these benefits belong to your son and NOT to
you, I'm not sure what right you would have to place any
remaining amounts beyond his reach when he reaches the age of
majority. If you plan to do something along these lines, I think
you should seek legal advice FIRST.

MTW

"Theron Mann" <scary_penguin[at]hotmail.com> wrote in message
news:6bd0585c.0406111248.26bd61a[at]posting.google.com...
- quote -

Why is he receiving benefits?

SS Survivor benefits are paid to surviving spouses until the youngest child
is 16, and to the children in name until age 18 (unless they are disabled,
then age 22).

SS benefits for disability are an entirely different matter. You can't
accumulate them -- or they will cut/stop your benefits. Once they stop for
cause, they will not restart (something many find out the hard way).

Nobody on here can answer your question without a complete set of facts.

A trust requires a lawyer that does that kind of work in YOUR jurisdiction.
This really isn't the proper place for a fact-specific question in that
area.

Brent D. Gardner, ChFC
Chartered Financial Consultant
http://members.cox.net/brentdgardner1378/

"Be ever questioning. Ignorance is not bliss. It is oblivion. You don't go
to heaven if you die dumb. Become better informed. Learn from other's
mistakes. You could not live long enough to make them all yourself." - Hyman
George Rickover (1900-86), Admiral, US Navy, advocated development of
nuclear subs & ships

The Chartered Life Underwriter (CLU) and Chartered Financial Consultant
(ChFC), designations owned and exclusively offered by The American College,
signify the highest standards of academic study and professional excellence
in the financial services industry.

Here's the story:

My son is receiving SSI benefits (about 10,000/year, indexed to
something) and will keep receiving them until he's 18. (He's 6 now).
Up to now, I've been using them mostly for his support, but we're in a
position now where I can invest them on his behalf. As I see it, my
main options are:

1) Continue using them for his support, but invest a similar amount in
a 529 plan for his benefit,

2) Invest them in a trust for his benefit with me as trustee, or

3) Just invest them in his name.

#3 seems like a bad idea - I don't want him getting his hands on
$100,000 when he's 18. Any thoughts on whether 1 or 2 is likely to
work out better?

Thanks - T