When a Social Security beneficiary is unable to manage their own account, they can have a representative payee step in to manage the account for them. This typically happens when the beneficiary is a ...

The Social Security Administration offers advance designation to capable adults and emancipated minors who are applying for or receiving Social Security benefits, Supplemental Security Income or ...

Julia Kagan is a financial/consumer journalist and former senior editor, personal finance, of Investopedia. Hans Daniel Jasperson has over a decade of experience in public policy research, with an ...

A loss payee is the person or institution that receives the insurance payment from a loss. The loss payee is a legal definition used to cover the investment of other parties when you lose property.

The concept of a Representative Payee is vital in the realm of Social Security, particularly for those who cannot manage their own financial affairs. This role is designed to ensure that the funds ...

A company that receives payment for services in a business-to-business transaction may be subject to backup withholding for taxes unless the company is an exempt payee. A limited liability company can ...