Fiduciary considerations

Jim,

I just got the following message from a Vet Advocate. Could please give me your take on this, or is it even now at this point in time.

"IMHO, a fiduciary case is way, way, beyond any VSO or "free advisor". I dont think you can possibly underestimate the devestating financial effect of a bad fiduciary would have on your family, and this is not something I would leave to either "chance" or even a lawyer with less than significant experience with VA law. I would go with a pro, and I doubt that you would regret it. At a very minimum, you can almost always discuss your issue with a VA attorney, and, even if you decide not to enlist his or her services, they will often point you in the right direction.

Frankly, I would highly consider (Attorneys). These are all highly regarded VA law experienced attorneys that have won significant benefits for their (Veteran) clients. You can even do your homework and do a search, at the CAVC website, and type in an attorneys name and find out how he has done with other Vets.

You may also have good luck with some of the "national" law firms who do pro bono work for Vets. You see, a large well known law firm is NOT going to want one of their attorney's on staff to do pro bono work, and then say...ok we represented you and you lost..now have a nice day...NO! Those law firms have BIG EGO's and would not want their good name attached and associated with failure! Those big name law firms have excellent research teams and software to "dig out" those loopholes and exploit them to the max.

While I am not an expert at all, I have read enough about this issue to know this is not childs play! The VA has been burned and burned badly, and those VA employee lawyers want revenge and would love to take a case to "weaken" or even reverse Freeman, so you need a "heavy hammer" to counter the VA huge resources...some 400 or so lawyers.

Do not even think of showing up at a gunfight with the VA with a knife or any thing less than HEAVY artillery...such as a very experienced, big name law firm in the category of those I mentioned. You need every advantage you can muster, so the sooner a lawyer enters your case, the more likely you are to have a positive outcome. It is high time to call in the "heavy hitters" to help you. The VA has made their position known: They plan on taking advantage of every Vet and family they can to the max on the issue of fiduciary.....that fishy smell coming from the fiduciary department at the VA is NOT dinner!!"

Am I even at this level yet. I know the seriousness of the matter, but I also know the passion you have for this fiduciary mess. If the retro wasn't so large, I doubt that they would even be putting me through this mess. A wrong decision would actually ruin my family.

Reply:

The advice is really pretty good. However, as you've guessed...you aren't at that level yet. Few attorneys would bother trying to take your case as there is no abuse to be noted. So far your case is routine.

The proposal to you by VA to appoint a fiduciary isn't an offense. In your case, I believe there may be a reason to resist. You aren't happy with the idea and so far you seem very bright, you're a good communicator and based on that limited evidence I wonder if you need a fiduciary?

There are many who do need a fiduciary and not every professional fiduciary is a bad thing. Out of every 100 veterans who ask me about the arrangement, I tell maybe 75 or 80 of them to stick with it. One recent one had seen the spouse appointed and the veteran wanted his money under HIS control, not his wife's. He told me that he did not have a gambling problem, he just enjoyed gambling. The wife and others found that pissing away your check in a weekend every month was a problem. Another female vet had some serious drug issues and confessed to giving her money to a dealer and hoping for the best. Her older sister was fiduciary and when I told her to stay with that, she ultimately agreed.

To use a lawyer you must have some documented abuse by VA. Read Freeman (it's on my site) to understand that. Give your vet advocate my best. That's good advice although just a bit off the mark.