I have some questions which may be helpful to those of us who are going through the V.A. Fiduciary appointment process.
I have kept abreast of the V.A.'s problems with it's fiduciary appointments (some cases). I've read nearly all of the V.A. manual on the fiduciary appointment process to find out the answers to my questions.
I'll keep statements and questions 'generic' as much as possible, realizing that every case is different.
It has been decided by the V.A. that the veteran in question is 'incompetent' (no rebuttal from family or veteran) and thus, a fiduciary must be appointed by the V.A. to manage the veteran's disability compensation he receives and the retroactive V.A. disability compensation payments which are being withheld pending the appointment.
In our case - Veteran is retired from the military and receives pay from DFAS, receives Social Security and now, V.A. disability compensation. (Veteran does NOT receive V.A. pension for obvious reasons.)
Currently, all the above funds are direct deposited in one account. (Hindsight - Do not listen to a VSO who advises you to have disability compensation deposited in this manner. Keep V.A. funds seperate.)
This will change once V.A. fiduciary is appointed and the disability compensation will be deposited into a seperate account naming fiduciary (this is according to the fiduciary officer with whom I spoke).
It is understood that the person who is a candidate for becoming a V.A. fiduciary will agree to a credit check and a background check per V.A. protocol.
V.A. fiduciary officer has asked that the veteran's bank statements from the previous month be presented to him for his review at the upcoming meeting. He also wants to see copies of any other investment accounts (in this case, there are none). Fiduciary asked about home ownership; veteran owns a house which is up for sale; this is his only asset.
V.A. fiduciary stated that the V.A. is also concerned with Social Security funds a veteran receives and will want these funds deposited in the same account as the V.A. disability compensation funds and available for review by the V.A..
1). Why is the V.A. concerned with a veteran's funds he receives from Social Security?
I understand why the V.A. would be concerned with how the disability funds are being used.
Perhaps I should word my question to read:
"What legal right does the V.A. have to be concerned with any funds other than those it dispenses (in this case, disability compensation)?"
I understand the V.A. wants to - or has a legal responsibility to - make certain the potential fiduciary is investigated prior to appointment. I understand it is in the veteran's best interest and the V.A. wants to make certain the disability compensation will be used for that purpose. That is not my question.