When do you have to have a Fiduciary?

Discussion in 'Fiduciary questions' started by JeanT, Jun 4, 2016.

  1. JeanT

    JeanT Newbie

    I received the AA award for my mother in March. Nothing was ever mentioned about a fiduciary. Is this because on the application we put she could handle her own financial affairs? Presently both her savings and checking account are in her name and mine. I pay all her bills and handle her finances. Should I be worrying about the fiduciary piece? Should I leave well enough alone? Not sure how to handle this - don't want to run
    into any "bumps in the road with the VA".
     
  2. Kaylin

    Kaylin Hero Member Staff Member

    JeanT,

    The physician's statement is the form that which the VA uses to determine whether the applicant will need to go through the fiduciary process or not. If the physician marked and you all showed in all accords that your mother could handle her own financial affairs, than the VA may not request you go through the fiduciary process. If you have already received the award and they did not request it, it looks like you do not need to go through that process.
     
  3. toxdoc49

    toxdoc49 Jr. Member

    So, if they request you go through the fiduciary process, how long does that delay the award of the benefit? I think you said in the past not to challenge their determination.
     
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  4. Kaylin

    Kaylin Hero Member Staff Member

    Correct, you do not want to challenge their ruling on the fiduciary. Unfortunately, the VA will try to find a reason to require a fiduciary and most applications result in a fiduciary being necessary. The fiduciary process can take up to a year to be finalized. More wait time. :( The applicant will still be awarded the benefit and will receive payments moving forward, but the retroactive funds will not be given to the applicant until the fiduciary process is finished.
     
  5. toxdoc49

    toxdoc49 Jr. Member

    So the fiduciary process adds potentially an additional year to the approval? I thought I read somewhere on the forum that if you don't challenge, it does add time but not a whole year. I hope I am wrong that it adds an additional year to the approval :eek:
     
  6. Kaylin

    Kaylin Hero Member Staff Member

    It does not add time to the approval, it just adds time to receiving the retroactive payments.
     
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  7. toxdoc49

    toxdoc49 Jr. Member

    Thank you for clarifying that .
     
    Kaylin likes this.
  8. Kaylin

    Kaylin Hero Member Staff Member

    You're welcome!
     

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