Veterans Administration proposes look-back for special pension program
Presently, the VA Special Pension program bases eligibility on a “snapshot” of the income, expenses and very low assets of the applicant as of the time of the application. There is no specific asset limit, no look-back or transfer penalty (unlike Medicaid), and the applicant’s income is offset by qualified recurring medical expenses to see if the remaining income is below the...
Trust & Transfer Planning for VA Benefits may not be effective for Medicaid Planning
A Medicaid application for nursing home level services is not filed until your countable, available assets are below a specific limit. Transfers (gifts) and Trusts can be used in certain circumstances. When our attorneys are analyzing the laws and developing your asset protection plan, the two major issues in this regard are (1) whether the funds in the Trust continue to be countable assets,...