Signature on Fiduciary Letter?

Discussion in 'Fiduciary questions' started by Maven, Jun 1, 2017.

  1. Maven

    Maven Jr. Member

    We received the letter appointing my husband as fiduciary for his mother. When we attempted to set up the custodial bank account we were told we needed an "original or electronic signature" from a VA official.The letter bears no signature only ends with:
    RO Director
    VA Regional Office

    Anyone else come across this?
     
  2. Kaylin

    Kaylin Hero Member Staff Member

    I have not heard of this issue before, @Maven. If nobody has an answer by next Wednesday I may include this one as the "question of the week" in our newsletter because I am curious if anyone else has come across this problem.
     
  3. Maven

    Maven Jr. Member

    Thank you. Since posting this question my husband called the VA and when he told them that 2 different banks told us over the phone that the 2 items that were needed to open the account were 1-VA benefit letter and 2- An "original or electronic signature" from a VA official, he was told "Your not going to get that." She went on to say that since the letter is written on a VA letterhead that is sufficient and that she never heard of any bank requiring a signature, and that if it was an issue to have the bank call the VA and ask them about the letter.

    Both banks were actually reading to us what the requirements were off of a document they found while researching the custodial account for VA fiduciary purposes.Since opening this account will require international travel for my husband he wants to be sure he will have everything he needs with him.
     
    Kaylin likes this.
  4. Kaylin

    Kaylin Hero Member Staff Member

    I'm glad you were able to get some sort of explanation! You are in a very unique situation with applying for the benefit outside of the U.S.
     
  5. Maven

    Maven Jr. Member

    Well....we actually didn't get any explanation as to why the letter was not signed and why the VA refuses to provide a signature while the bank says it is a requirement and am still wondering if anyone else has come across this situation.And the fact that we are outside the US doesn't really pose any problem, we are all US born and like many just happen to have a second home outside the US.
     
    Kaylin likes this.
  6. Kaylin

    Kaylin Hero Member Staff Member

    Gotcha. I can understand why the banks may be confused and the VA is pushing back with their own rules. My advice is whatever the VA says is fine with managing the account at a bank in another country, that is what I would do.
     

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