Fiduciary Process Question

[minerva18]

Hi,

I have a question on the fiduciary process.

My father was granted a 100% service connected disability last fall.  The payments go to a checking account with his name, but I am also on it to sign for checks as I handle all of his affairs, he is in assisted living.

In March of this year we applied for SMC Aid and Attendance.  According to eBenefits he has been granted SMC L on top of the 100%.  When we completed the aid and attendance with his doctor one of the questions was can the veteran handle his own financial affairs.  We answered No truthfully and that I handle them.  The letter we received in the mail states that the VA received info indicating that his disability prevents him from managing his benefits and that they must decide if he needs help and they are proposing he needs a fiduciary.

I spoke to someone at my regional VA office who told me to complete form 21-4138 Statement in Support of Claim, which the VA had included in the mail.  He said to put that we agree with the decision and to appoint me fiduciary.  I was also told that this only affects the back pay and he would receive his payment on June 1 as normal.

Does anyone have any experience with this process?  From what I read the VA sends someone out to do an interview of the fiduciary and they would want to run a credit check on me and want to know all my finances.  Is this really the case?  The fiduciary process seems like a pain.

 

 

[broncovet]

I think you nailed it when you called it a fiduciary "process", reminding you that we "process" chickens and turkeys, and that "process" is not all that beneficial from the turkey or chickens point of view.  

Now, I have NOT had experience with a family member being the fiduciary, but I have heard horror story after horror story of a VA appointed fiduciary.  

It would not suprise me one bit if they did run a credit/background check on you.  You see..you would be/are responsible and, if that goes hay wire, then VA has some liability there, since they are involved with the fiduciary selection "process".  (I hate the word process, as you may have guessed).  

If you think your credit report is lacking, then YOU should consider someone else, like another family member or trusted friend, but I think its a good idea for you to appoint someone that maybe you can look in on from time to time.    I dont know there is a minimum score, but the VA wont permit YOU to confiscate property from your father, after all, the VA has their OWN corrupt fiduciary department drueling over taking over your father's finances.  Those fiduciary's use that designation as a license to legally steal.  

      Its in your best interest, as your father's heir, to get involved with the fiduciary selection "process" if you dont qualify for whatever reason.  If you do qualify then, of course do that.  

     According to this flyer, yes, VA will do not only a credit check, but more:

https://benefits.va.gov/BENEFITS/factsheets/fiduciary/FiduciaryFactSheet.pdf

[minerva18]

My credit is excellent.  The thing is I already have financial power of attorney and handle everything.  All of this seems unnecessary just to get 2 months of back pay on the SMC.  They told me he would still receive his monthly payment.