What is the name of your state? Connecticut
My two daughters of 11 and 15 are receiving SS benefits as I lost my Wife to breast cancer in 2002. I just received a "Representative Payee Report" for the first time. All of the SS funds are set up in their own savings accounts with intent to be used for college eduction. Questions are;
1. Question 3B on the form SSA-6230-OCR-SM asks how much of the funds have been used for care and support of the children. I use my regular earnings to support my two daughters and SS benefits are direct deposited to their savings accounts and the amounts remain untouched. All of the benifits are saved to their accounts. Do I risk eligibility by handling it this way and reporting the entire amount in their savings accounts? The accounts are in their names with me being the custodian of the accounts.
2. I intend to put the funds in a Connecticut Higher Education Trust (CHET) fund for my daughters college education. Is this OK to do and if so, how should I report this on this report in the future?
Thanks in advance.