Some people who receive monthly Social Security or SSI benefits may need help managing their money.

Jack Myers with Social Security explains when they receive information that indicates you need help, they work with you to find the most suitable representative payee to manage your benefits. Your representative payee receives your monthly benefits on your behalf and must use the money to pay for your current needs. 

According to Myers, Social Security also offers Advance Designation, which allows you to designate a person or multiple people whom you would trust to serve as your payee should a need ever arise.

Myers stresses Advance Designation is completely optional and does not indicate that you want or need a payee now. It merely provides Social Security with names and contact information that will serve as leads for us should we find out you need a payee at a point where you are no longer able to communicate those names to them.

Find out more about the payee program at www.ssa.gov/payee.