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How To Spend My Money


Alb

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I was awarded 100% SC PTSD. VA found me incompetent. My husband is going to handle my financial affairs. Does this mean when the retro money hits the bank, I have to ask the VA how to spend my money? We want to use all the retro pay to pay off our mortgage. Is this going to be a problem taking out all of the money for this purpose. Is there a limit on how much money you can draw out? How can they control what comes out of your bank account? I mean, if the money is in your account, how does the VA control your spending limit. ( if there is any) :lol:

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as far as i know you don't have to report to the VA how you spend your money....it just means that your hubby controls how it's spent.

but i do believe you (your hubby) have to keep receipts on how the money is spent. i'm no expert on this subject though...i'm sure others will answer as well.

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  • HadIt.com Elder

Paying off your mortgage would be a smart thing to do. Your husband will have to fill out forms to show how money is spent. Be sure and carefully read any instructions that you are given.

Good Luck

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  • HadIt.com Elder

my ex wife and her husband have to show SS how they spent my son's SSD check annually as long as there are legitimate expenses they have no problems 30% for housing, 20% for food, 10% for clothes, 10% for entertainment etc, I imagine it would be the same to account for your funds just comply with their documentation requests and do not let them appoint an "fiduciary for you" like CPA or a lawyer etc they take it out of your funds so make sure whatever forms they send get filled out and returned on time

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I wish I could help you but instead am asking you to help me. I am about to be rated incompetent. How did you get your husband as fidiciary? They told me they would get me one of their chosing. Did they pay you while you were waiting for your appointed fidiciary? How long did it take? Are you appealing? Anything you could tell me on this subject would help. Thank You Bonnie

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