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How is a beneficiary rated as “incompetent” or unable to manage his or her own financial affairs?

Published 08/13/2012 03:51 PM   |    Updated 08/20/2012 11:38 AM
How is a beneficiary rated as "incompetent" or unable to manage his or her own financial affairs?

 

The Department of Veterans Affairs will review a beneficiary's financial "competency" after receiving medical evidence indicating that the beneficiary may be unable to manage his or her own financial affairs. The medical evidence received by the VA is generally provided the medical professional conducting a physical or mental examination for VA benefits.

If VA determines, based on the evidence provided, that a beneficiary is unable to manage his or her own financial affairs the beneficiary will a notification letter stating that they may: 

  • Submit new medical evidence
  • Request a hearing (within 30 days of notification letter)
  • Waive 60 day due process, or
  • Not respond

If the beneficiary did not respond, waived due process, or medical evidence was determined insufficient then the beneficiary will enter the Fiduciary Program where a field examination will be scheduled and a fiduciary will be appointed.