Fiduciary Question

Discussion in 'Fiduciary questions' started by sschramm, Jan 27, 2017.

  1. sschramm

    sschramm Newbie

    My sister is in the process of being appointed fiduciary for my mother. Sister is concerned about opening up a separate bank account. We don't want to close the account mom's social security goes into, and most of her bills are auto-drafted from this account -- but my sister is worried about paying different bills from different accounts. What should we pay from the fiduciary account, or does it matter? I know she has to keep a separate accounting. Any help would be appreciated. Thanks in advance!

    Susan
     
  2. Kaylin

    Kaylin Hero Member Staff Member

    It is best to have a separate account for the fiduciary, Susan. It is encouraged. That way the VA will directly deposit the money your mother gets in retroactive payments and the monthly A&A benefit to that account. Then just withdraw money from that account for your mother's needs.
     

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