VA Fiduciary

VA Fiduciary

What is a VA Fiduciary?

This article explains a VA Fiduciary and how to get the protection. If you are a Veteran and you are unable to manage your financial affairs, due to injury, disease or aging, you may be assigned a fiduciary. A fiduciary is a financial manager or trustee of your VA disability compensation benefit. The Department of Veterans Affairs (VA) assigns fiduciaries to protect veterans and beneficiaries who are unable to manage their VA benefits. The VA has conducts a field examination before assigning a fiduciary.

The VA Field Examination

If you need help in managing your VA benefits, a VA field examination will be scheduled for the purpose of appointing a fiduciary to assist you. During the field examination, you will need the following information available for review:

  • Photo identification.
  • The source and amount of all monthly bills, recurring expenses (annual, bi-annual, quarterly, etc.), and income.
  • A list of all assets, to include bank accounts, owned property, stocks, bonds, life insurance, burial plans, etc.
  • A list of all current medications.
  • Name, phone number, and address of your primary care doctor.
  • Name, phone number, and address of your next of kin.

The VA’s Fiduciary Program was established to protect Veterans and other beneficiaries who are unable to manage their financial affairs. VA will only determine an individual to be unable to manage his or her financial affairs after receipt of medical documentation or if a court of competent jurisdiction has already made the determination.

Who Can Be A Fiduciary

The fiduciary, normally chosen by the beneficiary, must undergo an investigation of their suitability to serve. This investigation includes:

  • a criminal background check,
  • also a review of a credit report,
  • personal interview, and
  • recommendations of character references.

Only after a complete investigation is a fiduciary appointed to manage a beneficiaries VA benefits. Generally, family members or friends serve as fiduciaries for beneficiaries; however, when friends and family are not able to serve, VA looks for qualified individuals or organizations to serve as a fiduciary.

Attorney Peter S. Cameron is a US Navy Veteran who understands the military legal and benefits system.  Therefore he is well qualified to help you.  So, call us today at 800-861-7262 for a free consultation. Additionally, if you prefer, simply use our secure website and send us an email for a quick response. Because we are here to help you.

This article is for educational and marketing purposes only. It does not create an attorney-client relationship.