Banks that set up fiduciary accounts?

Discussion in 'Fiduciary questions' started by Sperry8, Dec 13, 2014.

  1. Sperry8

    Sperry8 Newbie

    Hello all,

    My father recently was awarded A&A and we are working to set me up as fiduciary. I've spoken with Citibank and HSBC re setting up a fiduciary account (the way the VA requires) but both banks have stated they won't do this without a court order - which I don't have and won't get from the VA.

    I also spoke with Chase today and they seemed to be able to do it (they had a VA Custodial Acct in their system). However the guy said they'd need to see a paycheck from the VA to my father with his name on it. I said their is no such thing as all payments are directly deposited. He said they needed that or VA form 21-4073 (fiduciary agreement) to open the account. I've googled that form and don't find it. Does anyone know what they received when approved as fiduciary? Was it this form?

    Obviously many of you have set up this sort of account with a bank. Can you share some of the names of major banks who have done this for you? And what paperwork is/was required of you to open one?
     
  2. vetadmin

    vetadmin Administrator Staff Member

    You will need to get the VA to send you that form.

    Hoping that others who have had to do the same will chime in here and offer some assistance.

    Congratulations on getting through the application process and getting the pension awarded.
     
  3. wanderingone

    wanderingone Newbie

    Mother's A&A

    My 93 year old mother moved into Assisted Living in June 2014. She has been getting my father's VA benefits for some time. He is deceased and served in the military during WWII. I cannot figure out if she is entitled to additional monies from the VA since she is now in Assisted Living. She may have assets in excess of $80K but I'm not sure. What is the maximum she is entitled to receive now that she is in assisted living. If she is entitled to additional money, what forms would need to be completed to get this done. Thanks.
     
  4. Sperry8

    Sperry8 Newbie

    Thank you. Good to know that form will be provided by the VA. I assume I'll get it (or ask for it) once I am interviewed/approved to become fiduciary.

    And yes, would be great if people could chime in with some bank names that they've had success in actually opening the fiduciary acct.
     
  5. vetadmin

    vetadmin Administrator Staff Member

    WanderingRingTone,

    Would need to know what your Mom is receiving. It sounds like DIC.
     

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