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A representative payee who is no longer serving as a payee must return savings or other investments and any interest earned on the funds to us. SSA will reissue the returned funds to either a new representative payee or to a beneficiary currently receiving direct payment.
In the event of the beneficiary's death, conserved funds become the property of the beneficiary's estate. Rather than returning them to SSA, conserved funds must be given to the legal representative of the deceased beneficiary's estate for disposition under State law. If no legal representative exists, the payee must contact the State probate court (or the State agency handling estate matters) for instructions on what to do with the remaining conserved funds.
Last Revised: Aug. 2, 2007
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Last reviewed or modified Friday Feb 01, 2008 |