Q:

How does someone become a fiduciary?

A:

Quick Answer

There are two different options for becoming a fiduciary: becoming a fiduciary for a family member or friend, or becoming a professional fiduciary. Both options for becoming a fiduciary require going through the process with the Department of Veterans Affairs, which includes an investigation regarding suitability for the role.

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Full Answer

Individuals who are interested in becoming a fiduciary for a family member or friend will need to contact the regional VA office closest to their location. The name and VA file number of the loved one is required. Those interested in becoming a professional fiduciary need to submit their cover letter and resume directly to the VA via email.

The fiduciary is required to go through a criminal background check, as well as an examination of their credit report. A personal interview and character references is also required. The fiduciary cannot be appointed to assist their loved one until this process is complete.

A fiduciary is responsible for managing the financial affairs of a veteran who is unable to do so because of age, illness or injury. A veteran can be required to obtain a fiduciary only if a court has deemed him incompetent or if medical documentation shows that the fiduciary is required.

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