MORE IMPORTANT THAN EVER TO FIND OUT HOW THE NEW RULES WILL AFFECT YOU
On October 18, 2018, the VA regulations governing Aid and Attendance were radically changed. It is more important than ever to get advice to avoid a 5 year penalty when you can least afford it. The important changes that will impact you are:
- NEW 3 YEAR LOOKBACK PERIOD
- TRANSFERS PRIOR TO 10/18/2018 WILL NOT BE PENALIZED
- UP TO A 5 YEAR PENALTY IN PLACE FOR TRANSFERS ON OR AFTER 10/18/2018
- TRANSFERS TO DISABLED CHILDREN WILL NOT AVOID PENALTY UNLESS CHILD RATED DISABLED BY VA (DISABLED PRIOR TO AGE 18)
- AMOUNT THAT A VETERAN CAN HAVE AND APPLY RAISED TO $123,600 AND ADJUSTED EACH YEAR, THIS WILL INCLUDE INCOME AS WELL AS ASSETS
- HOME WILL NOT COUNT AS AN ASSET UNLESS IT IS MORE THAN 2 ACRES
