Dennis Fiduciary Services
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|Posted on January 5, 2012 at 6:00 PM||comments (43)|
Sometimes our Veterans need help managing their financial affairs. I believe that many people do not know that the VA authorizes Professional Fiduciaries as well as family members to serve as Legal Custodians. Legal Custodians can receive VA benefits such as pension and disability payments on behalf of the Veteran, place those funds in Custodial accounts with a bank and pay the bills for the Veteran.
This protects the Veteran from abuse by others who might try to take advantage of someone who is not capable of protecting their assets. Legal custodians are Bonded. The Custodian receives a small fee of 4% of the monthly benefit to perform this service. An annual accounting may be required to be submitted to the VA. The VA may also retain the Custodian to assist the Veteran in applying for other types of benefits, such as SSI, and in resolving debt issues. Those of us who do this don't do it for the money but because it is the right thing to do.Write your post here.