I am a disabled vet that had a rather protracted SSDI process. I ended up with the Federal District Court overturning the lower court and awarding me SSDI. This has resulted in my children receiving a large back payment.
I am also medically retired from the US Army and receive compensation.
I don't need to use their back pay nor their monthly pay for my children's monthly expenses. So their back pay and monthly pay goes into their own accounts to which I am named guardian or custodian.
This leaves me with a few questions:
1. Can I invest their back pay in something like a 529 education fund? Or, more broadly speaking, can I invest their back pay for their future benefit?
2. Can I invest their monthly pay for their future benefit?
Thank you for your help,