Effective Oct. 18, 2018, new regulations govern the VA pension benefit program, especially important for those veterans and/or their spouses who want to qualify for Aid & Attendance pensions. The maximum monthly benefit available under Aid & Attendance is $2,169. However, the following new rules apply.
- The new asset and annual income maximum to qualify is $123,600.
- There is a new 3 year look-back period.
- Any assets transferred for “less than fair market value” during the look-back period result in a penalty that could last up to 5 years before a VA pension can be accessed.
- The personal residence (but not necessarily a large house lot) and one vehicle are exempt from the asset/income cap.
The Aid & Attendance program is a vitally important one, especially for those veterans who live in assisted living situations.
It is usually critical to coordinate planning for both the Aid & Attendance and Medicaid programs. The qualifying criteria are similar, but not exactly alike. If you or someone you know may be in need of support from either of these programs in the future, please contact Lantz Law, Inc. at 508- 998-8800 or email us at email@example.com.