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lori

Seaman
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About lori

Previous Fields

  • Service Connected Disability
    PTSD

lori's Achievements

  1. I was going thru some files and found the letter in which it states, "The Department of Veterans Affairs has appointed you as the payee for the veteran." I wonder if this is the same thing as a Federal Appointed Fiduciary?
  2. Here is another interesting piece of literature I ran across.... the letter © but it states for Federally Appointed Fiduciaries, I don't know if I am considered a Federal Appointed Fiduciary or not....Guess I will be calling the accounting department and asking them several questions Tuesday and get it in writing of the things that Can be legally done... (a) Type authorized. VA benefits paid to a Federally appointed fiduciary other than a spouse payee or an institutional award payee may be invested only in United States savings bonds, or in interest or dividend-paying accounts in State or Federally insured institutions, whichever is to the beneficiary's advantage. Department of Veterans Affairs benefits that are paid on behalf of an incompetent veteran to an institution via an institutional award payment arrangement may not be invested. (b) Registration. (1) When funds are invested in bonds, the bonds will be registered in this form: (Beneficiary's Name), (Social Security No.), under custodianship by designation of the Department of Veterans Affairs. (2) When funds are invested in interest or dividend-paying accounts in State or Federally insured institutions, the account will be registered in this form: (Beneficiary's name), by (Fiduciary's Name), Federal fiduciary. © Pre-need burial arrangements. Federally appointed fiduciaries, other than institutional award payees, may use a beneficiary's funds derived from VA benefits to make deposits into, or purchase, a pre-need burial plan or burial insurance on behalf of the beneficiary, if to do so is in the beneficiary's interest. (Authority: 38 U.S.C. 501) [53 FR 20619, June 6, 1988]
  3. Sorry but one more thing. If he currently is incompetent, can I ask the doctor to see if he can be proven competent? Will this mess up his 100% disability? He also was stated incompetent for his Social Security too...I just don't want to mess up his monthly income..but he also has the will which leaves his siblings with the estate, so they will not get any of his money which if that is the case, he shall get lots of things as he wants, housewares, gadgets, etc. I guess what I am trying to say is he will be spending all of his money...on himself.then he can will any of his housewares, gadgets, etc. to the siblings..or will the goverment get all of that too? He got his retro pay and paid off his home, will they get it too?
  4. I don't know if anyone has the same type of situation I have.....if so hopefully this will help them in the future...or shed a little light on this situation....I am going to take Carlie's advice and check on the POD....Federal Fiduciary doesn't state it cannot be done...lol Yes my brother is 100% disabled for PTSD. Yes they have him also listed as incompetent. He is afraid if anything every happens to him that his money in his VA checking and savings will go back to the government. He is wanting to figure out a way that they cannot take his money. Unfortunately, his savings is listed as his name by my name Legal Custodian. His checking is his name by my name Federal Fiduciary. I have to keep all receipts and send in yearly accounting and it has to match up penny for penny. I also have to get permission to purchase anything over $500.00 for him. He does already have a Will drawn up by a lawyer. If his money goes back to the government he wants to keep it spent. The Field Examiner made a list of things that he could purchase when he received his retro pay and then stated he could have $400.00 a month cash for whatever he wanted to do with. He also stated to keep at least one months pay in a savings account. It also stated on the Fiduciary agreement that after his needs are met monthly that the remaining monies be put in a interest bearing savings account. If it gets to be over $10000.00 He has to purchase a Surety Bond which basically keeps me insured from spending his money incorrectly. There is so much red tape it stinks because he shouldn't be told how to spend it by the government. He was in the Vietnam War and protected the country but now he is still controlled by them....
  5. Found the answer to my question...thanks everyone... §13.110 Escheat; post fund. (a) Escheat; 38 U.S.C. 5502(e). Upon death of a beneficiary for whom payment of Department of Veterans Affairs benefits was made to a court-appointed fiduciary, legal custodian, custodian-in-fact, or by institutional award, the fiduciary (or the deceased beneficiary’s personal representative) shall, upon request, account for and return to the Department of Veterans Affairs any remaining assets derived from Department of Veterans Affairs benefits which would under State law escheat to the State, less legal expenses of any administration necessary to determine that an escheat is in order. (b) General Post Fund; 38 U.S.C. 8520(a). Upon the death of a veteran intestate while a member or patient in any facility while being furnished care or treatment therein by the Department of Veterans Affairs, who is not survived by a spouse, next of kin, or heirs entitled under the laws of the veteran’s domicile, the veteran’s fiduciary, if any, or the veteran’s personal representative shall account for and turn over to the Department of Veterans Affairs all personal property, including money and chooses in action owned by the veteran at the time of his or her death. (See also §14.514© of this chapter.) © Refusal of fiduciary or personal representative to cooperate. If the fiduciary or personal representative, if any, refuses to voluntarily comply with the provisions of paragraph (a) or (b) of this section, the Veterans Services Officer will submit a complete report to the Regional Counsel.
  6. I figured it might go back to the government if the veteran was incompetant. He was afraid of that. There probably is no way around that.
  7. I am the Federal Fiduciary for my brother's VA Benefits. He is wondering if he should pass away, the money in his checking will it go back to the government or be left in his estate. He does not currently have a savings account, but if this keeps it in his estate he will plan on starting one. He has never been married and both of his parents are living. Thanks
  8. I read the code of ethics again, it sounds like if they are being cared for in a facility by the Dept of Veterans who is not next of kin, etc. Let me know what you think. Escheat;post fund 13.110
  9. there is a will which I don't know which takes presidence over the other. Might have to talk to the lawyer on this one before hand.
  10. He does have a will but I was reading the VA Code of Ethics check out this link http://ecfr.gpoaccess.gov/cgi/t/text/text-....28&idno=38 I may have not interpreted it correctly.
  11. I see, well they told me he can only spend his money on himself. I think it all has to do with the incompetent. His Retro has finally hit the bank, so I think we will continue with the VA's way and if we run into problems, then we will seek competency. He was asking me, you may know, that if he were to pass on, does VA take the money back if any is left in his checking and hold his assets? Thanks, Lori
  12. Do you know who your fiduciary will be? I suggest what they have suggested to me, ask to manage your money. I am not sure if it will hold up your money, but until a fiduciary is in place your money will not be released.
  13. Yes, I do think he can manage his money although he does like my input. I discuss every money with him, he tells me how he wants to spend it, etc. The problem with him being incompetent is that all of his monies have to be approved with the field officer if over $500.00 and I have to send in the yearly statement of how it was spent to VA. The thing that irritates him the most is that they are in control of how he spends his money. I am going to contact his doctor and let her know he is competent enough on where and how he wants to spend his money. He also wants me to balance his money and continue paying his bills for him. He just does not want to be told how it can be spent. He is not allowed to spend any money on his parents to help them, this irritates him the most. I really appreciate all of your inputs. If he does ask to be competent on how his money is spent, will this decrease his pay? He is 100% Permanent and Total Disability PTSD. Thanks
  14. He started out at 50% non service connected disability. He was granted disability pension benefits October 2000. He was also found incompetent in December of 2001 by VA. He was granted 100% Permanent & Total Disability in July 2008. He is still waiting on his Retroactive Payment. I have been taking care of his affairs since 1999. I was appointed Federal Fiduciary in 2002. Now for the new award I must get a surety bond?
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