5 year old bankruptcy- Oh no!

Discussion in 'Share Your Personal Experience' started by doris0313, Nov 10, 2014.

  1. doris0313

    doris0313 Newbie

    Hi Everyone. New to this forum. My late father was active duty Korean War vet. Following a stroke my mother put in memory care. With a lawyer we applied for VA aid and benefit. She qualified after about 8 months and the money is going into her account and I use it to pay for the facility. Now the lawyer had me fill out appointment of fiduciary and have her sign it. Recently I found out they will interview me in the next couple of months.
    I am a professional with a house and a good job as a public school teacher. But, I have a 6 year old bankruptcy on my file. It will be there for another 4.5 years or so.
    It appears from reading this forum that I won't be appointed fiduciary because of the bankruptcy. Is that correct and a hard fast rule from the VA?
    The lawyer said something about a bond. I pay all her bills and help pay the overage on the facility. Our accounts are adjoined and there is no leftover money.
    She does have some savings in there. What happens if they don't appoint me and there is no other family member? They appoint someone from outside.
    Does this mean I can't manage her other finances? What happens to the rest of her money? She has over 20,000 saved.
    I am so worried. I wish our lawyer had anticipated this. My mother will be found incompetent. Any advice?
  2. vetadmin

    vetadmin Administrator Staff Member

    You do face a challenge with the bankruptcy. It may be that if they deny you that you could offer up the attorney if they are willing, but they would probably expect payment for services.

    They usually only require the pension money to go into the special Fiduciary account, which hopefully would allow for the other monies to stay in the current account.

    Good Luck with everything.

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