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Single Veteran


lori

Question

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.

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  • HadIt.com Elder

I believe the money would go to his estate. There is no reason it should go back to the government, as it's his. The only portion that could be seized is any that was ordered paid to him and he didn't survive to be authorized to receive. Payments go out shortly before the first of the month and if he passes between then and the first they can and will seize that payment from his account. I suggest he get a "living revokable trust," which he can find at suzeorman.com for free. This way he or his trustee control his assets and when he passes, the trustee takes over and does whatever he wanted done. I believe it expedites the process, without waiting for probate and protects his assets, from taxes, etc. jmo

pr

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  • HadIt.com Elder

I believe PR is correct but I have seen posts where money of incompetent Vets went back to VA. I would check this out with someone who can discuss the legal issues.

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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.

lori,

Except for the info that pr posted - then NO - they money would not go back to the goobermint.

It's his money and would become part of his estate.

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