On September 18, 2018, the Department of Veterans Affairs (VA) amended the rules regarding eligibility for VA pension. These new rules have drastically changed VA pension planning. VA pension is a monthly cash benefit available to wartime Veterans or surviving spouses of wartime Veterans who have limited income and assets and are in need of care.
Some of the rules that will go into effect on October 18, 2018 are:
The good news is there is still time to apply for VA pension benefits under the current rules! Any assets transferred before October 18 will not be subject to the 36 month look-back period or penalty period rules. Nor will the asset limit be applicable.
It is extremely important to pursue VA pension benefits before October 18, 2018. I urge you to contact my office immediately if you or someone you know could possibly qualify for VA pension benefits.