Veteran FAQ
CAN I GIVE AWAY MY ASSETS AND OBTAIN VETERANS BENEFITS (SUCH AS AID AND ATTENDANCE) IF I HAVE TOO MUCH ASSETS FOR ELIGIBILITY (ASSUMING ALL OTHER QUALIFICATIONS ARE MET)?
As of October 18, 2018, the answer is “no” unless the Applicant’s resources were below the resource limit of $155,356 as of January 1, 2024. Transfers prior to October 18, 2018 are not penalized. Since the home (if less than 2 acres) is generally not a countable resource, the transfer of a home is not penalized. If the applicant (called the claimant) sells their home, eligibility could be lost so often certain trusts are established to prevent loss of eligibility. Transfers on or after October 18, 2018 are penalized unless the claimant was below the resource limit when the transfer was made. As of October 18, 2018, there is a 3-year look-back period (i.e., to trusts or just making a gift). Tax issues, changes in the VA rules and potential need in the future for Medicaid (since often more is saved for long-term care through the use of Medicaid especially if the applicant is likely to be in a nursing home within 5 years) should also be considered.
IS THE SURVIVING SPOUSE OF A WARTIME VETERAN (NOT DISHONORABLY DISCHARGED) SOMETIMES ELIGIBLE FOR SUCH VETERANS BENEFITS?
Yes, assuming the surviving spouse was not divorced from the Veteran at the time of the Veteran’s death and did not remarry.
WILL THE VETERANS ADMINISTRATION TRY TO RECOVER AGAINST EXCLUDED ASSETS SUCH AS A HOME OR CAR AFTER DEATH IF BENEFITS ARE RECEIVED?
No. This is different than the Medicaid rules as explained above.
WHAT IS THE MAXIMUM MONTHLY BENEFIT FOR THE IMPROVED PENSION PROGRAM?
727 (as of January 1, 2024); surviving spouse of Veteran – $1,479 (as of January 1, 2024); VA Pension that is A&A – $921.50 (as of January 1, 2024) and VA Pension that is A&A for surviving spouse – $553 (as of January 1, 2024).