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Investing SSDI dependent benefits and back pay.

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Anonymous
Investing SSDI dependent benefits and back pay.

Hello,

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,
Joshua

HI Joshua,

HI Joshua,
You may be able to do both, as SSDI benefits generally have more leeway as to what you can spend them on. You may want to check in with your local SSA office just in case, you can find a listing of them here:
http://www.disability-benefits-help.org/content/social-security-disabili...

Dave
I won a second look in

I won a second look in federal district court.. But my atty that got this done is no longer going to handle this . So I need an atty that will take over a Federal District Ct hearing. I'm from Michigan City Indiana any suggests?

Hi Dave,

Hi Dave,

You can fill out our Free Disability Evaluation to speak to a Social Security disability attorney. http://www.disability-benefits-help.org/form/free-disability-evaluation

Best of Luck,
Eric

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