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Updates on Minnesota Guardianships: Personal Well-Being Reports 640 418 Patrick J. Thomas Agency

Updates on Minnesota Guardianships: Personal Well-Being Reports

As of April 15, 2024, a significant update to the Minnesota guardianship statutes has been enacted, affecting all guardians in the state of Minnesota. This new regulation mandates that guardians must file annual Personal Well-Being Reports and Affidavits of Service using the MyMNGuardian (MMG) online application.   About the Statute Update…

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Managing and Transferring Guardianship Across State Lines 640 427 Patrick J. Thomas Agency

Managing and Transferring Guardianship Across State Lines

When you’re appointed as a guardian, your responsibility is to care for another person. This role includes making decisions on their behalf and managing their affairs effectively. But what happens when you need to manage guardianship from another state, or when circumstances require the guardianship to be transferred entirely to…

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Understanding the Financial Management Role of SSA Representative Payees 640 427 Patrick J. Thomas Agency

Understanding the Financial Management Role of SSA Representative Payees

When you become a representative payee, you take on a critical financial responsibility in someone’s life. Accepting the position means you’re in charge of managing the Social Security or Supplemental Security Income (SSI) benefits of someone who cannot manage their finances due to health issues or age-related reasons. What does…

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How to Conduct an Annual Commercial Insurance Review 640 427 Patrick J. Thomas Agency

How to Conduct an Annual Commercial Insurance Review

For any business, managing risks effectively is crucial to ensure stability and growth. An essential component of this risk management is commercial insurance. It’s an expenditure you must make to mitigate risk in your business. Sometimes it’s mandatory; sometimes it’s just something that makes sense for your business. How do…

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Everything You Need to Know About Creating a Living Trust 1024 682 Patrick J. Thomas Agency

Everything You Need to Know About Creating a Living Trust

Navigating the world of estate planning can be complex, but understanding the concept of a living trust is essential for anyone looking to manage their assets effectively. Creating a living trust can inevitably become a major part of planning your estate, but it’s not always the best path to take.…

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The Basics of Business Tech Insurance: Do You Need it? 1024 682 Patrick J. Thomas Agency

The Basics of Business Tech Insurance: Do You Need it?

Business and technology have always gone hand in hand, but there’s never been a time in history where they’ve been more inseparable. Nearly every facet of modern businesses is interwoven with some sort of IT system, which presents inherent risks—especially for small businesses who can’t adequately mitigate those risks. This…

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Why is a Surety Bond Required for Representative Payees? 1024 682 Patrick J. Thomas Agency

Why is a Surety Bond Required for Representative Payees?

If you’re in the process of being appointed as a representative payee, you’ve likely discovered that you will need to acquire a representative payee bond before you can “officially” take on the duties that are being assigned to you. Why do you need a representative payee bond? It helps to…

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The Basics of Social Security Representative Payees and Their Duties 1024 682 Patrick J. Thomas Agency

The Basics of Social Security Representative Payees and Their Duties

The Social Security Administration (SSA) administers a range of benefits, funds, and services to eligible individuals, including those who require a representative payee for assistance in managing their funds. When a beneficiary is unable to handle their finances independently, a representative payee can be appointed to step in and ensure…

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The Basics of VA Representative Payees and Their Duties 1024 678 Patrick J. Thomas Agency

The Basics of VA Representative Payees and Their Duties

The Department of Veterans Affairs (VA) provides various benefits and services to eligible veterans and their dependents. These benefits are distributed to beneficiaries for several reasons, primarily to support and enhance the well-being of individuals who have served in the United States military. When these funds cannot be managed by…

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Guide to Becoming a Representative Payee: From Applying to Getting a Bond 1024 710 Patrick J. Thomas Agency

Guide to Becoming a Representative Payee: From Applying to Getting a Bond

Becoming a representative payee allows you to help a person who receives benefits from the Social Security Administration (SSA) or Veteran’s Administration (VA) manage their money and help them live their lives more comfortably. Most people who first seek to become a representative payee don’t understand the position, the process…

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