26 Feb An Overview of the Fiduciary Program
The VA’s Fiduciary Program was established and implemented as a program that protects the compensation or benefits paid to beneficiaries and veterans who cannot manage their financial affairs effectively. The people that qualify for this service are those VA beneficiaries, whether an adult or a minor, that have been determined by either a court action of legal disability or by VA as being unable to manage their financial affairs effectively.
Whenever a person that qualifies for the VA’s Fiduciary Program receives any VA benefits or compensation, a third party fiduciary or payee is assigned the responsibility of ensuring that beneficiary’s benefits and compensation are expended for the needs, welfare, support, and care of the beneficiary together with his or her dependents.
The mandated duty of the Fiduciary Program is to offer an oversight to the fiduciaries. Therefore, it ensures the provision of proper services for any beneficiary who seeks for the program’s protection.