Posted on Aug 27, 2015
Simple answers could cause Veterans to have a Fiduciary assigned and see how well they manage the funds?
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http://www.va.gov/oig/pubs/VAOIG-13-03922-453.pdf
If you are receiving VA financial benefit, reading this report could be vital to you. Many times a simple conversation between you and a VA representative, whether or not your Primary Care or Mental Health staff could lead to having a Fiduciary assigned. Someone who manages your money for you. In married households it could be a simple answer of "nah, my wife/husband handles all the bills" or "he/she balances the checkbook, I get lost doing it." Be careful, while innocent enough, could be costly.
If you are receiving VA financial benefit, reading this report could be vital to you. Many times a simple conversation between you and a VA representative, whether or not your Primary Care or Mental Health staff could lead to having a Fiduciary assigned. Someone who manages your money for you. In married households it could be a simple answer of "nah, my wife/husband handles all the bills" or "he/she balances the checkbook, I get lost doing it." Be careful, while innocent enough, could be costly.
Posted >1 y ago
Responses: 3
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Great Information, thanks for posting. Will possibly see if this needs to be brought up at our next VFW Gen Mbrshp Meeting.
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This happened to my FIL because my jackass BIL had access to the VA funds and it was a sizeable amount of money each month like $4000/month. I was incensed when they asked for food money a couple times.
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Why would having a fiduciary be costly for a service member who might be able to benefit from their help? I agree that the loss of control could be disconcerting, however I suspect that in most cases where that happens the veteran benefits.
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Sgt Spencer Sikder
There are definitely times where a veteran needs a fiduciary, however, sometimes VA is too quick to assign one. And when you are early 40's, cognizant and functional, should someone control your funds? Maybe or maybe not. I learned of a veteran who is younger and his family was designated fiduciary. The family member was only a figure head as he turn over every bit of the monthly allocation. Unfortunately the veteran wasn't competent enough to budget appropriately and would frequently struggle financially in meeting basic obligations. The report that prefaced this post reflects other horrors of fiduciaries. It's those folks we need to worry about.
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