October 18th, the V.A. is starting a 36 month “look back” on gifts. This will affect the eligibility for The Aid & Attendance Pension Benefit. It has been a lifeline to afford the Long Term Care they need. The V.A. is also changing the asset limit (the amount they family can hold and still qualify) to $123,000. If the veteran still lives in the house; it’s not counted toward assets. If they are planning to sell the house, the money from the sale could be counted. However, with proper strategies, they might still be able to qualify. Some veterans can no longer live in the same house (too many stairs, too far from care) If a veteran is planning on selling the house, please contact the Veteran’s Financial immediately: 1-800-835-1541.
"A Senior Moment" is written by Ms. Sara Lieber, owner of Senior Sidekicks. Ms. Lieber has over 30 years of experience in senior care.