Who best to appoint as fiduciary for father - Wife or Daughter?

Discussion in 'Fiduciary questions' started by Cattail, Feb 28, 2015.

  1. Cattail

    Cattail Newbie

    We have been in process with A&A claim for my father going on four years now. Monthly checks finally started last November, and Dad has been awarded three years of retroactive monies--yippee! Now we are starting the fiduciary process, as Dad has Alzhemier's and hasn't managed his own affairs for years now. My dad's wife (my stepmom) would be the obvious choice as fiduciary. However, she has major health problems of her own. Nothing critical at the moment, but I am very worried that if she is fiduciary and then takes a turn for the worse and is hospitalized or dies -- how would I access my dad's A&A money to take care of him? (Approx $50,000). He is living in an ALF, and his expenses are formidable. Stepmom is not really up to the task - vision/hearing loss make it difficult to work on computer or talk on the phone, and she does not want to deal with the yearly accounting. So we have discussed me being appointed instead (I am the daughter, and also the one who has been dealing with the claim process thus far. Even if my stepmom were assigned as fiduciary, I would be the one doing all the footwork and paperwork.)
    My question is this: is there a downside to me being appointed fiduciary rather than my dad's wife? On top of everything, my stepmom has filed for bankruptcy for her and my dad, so their credit is not good. And she doesn't seem to understand completely that the money cannot just be spent any way she wants - she asked me if she could by a car for her daughter (the person who drives my stepmom to dr. appointments, etc.) because the daughter's car is on its last legs. I told her this kind of spending would not be allowed. Any advice/suggestions would be welcome. My stepmom is okay with me being appointed as my dad's fiduciary. They are receiving the veteran and spouse portion of A&A benefit. Thank you.
     
  2. vetadmin

    vetadmin Administrator Staff Member

    The bankruptcy would make your step-mom ineligible to be appointed as fiduciary, so that takes that off the table for considerations. You need to be appointed.
     

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