Custodianship/Representative Payee

iStock_000002987645Custodian:Representative PayeeWhat is a Custodianship/Representative Payee?

When an individual receives a government benefit and that individual is determined to be at risk in the community, the government entity will appoint a Custodian, also known as a Representative Payee, or simply, a Payee. If the recipient is incapable of managing their own funds and is vulnerable to exploitation, Stagg Fiduciary Services, LLC may be appointed to receive and manage the funds for the recipient.

Our Responsibilities

As the Payee for a client receiving government benefits, such as VA Disability Compensation or Supplemental Security Income, we are responsible for making sure those funds are used for the recipient’s basic living expenses, such as food, clothing, and shelter. We receive the client’s government benefit, set up a budget, pay bills, give the client a personal allowance, and try to maintain a savings program for the client. While not responsible for all the client’s assets, we are accountable for the use and distribution of the government benefit awarded. Other types of income for which we may be appointed as Payee include: Social Security Retirement, Social Security Disability Benefits, Railroad Retirement, Civil Service (through the U.S. Office of Personnel Management) and many others. Reporting is done on an annual basis to the agency that appointed us.