The VA (Veterans Administration) and Medicaid landscape is ever changing, and always in favor of government. We wrote you last year to advise you of the pending 36-month look-back for VA Aid and Attendance.
The new rules would impose a 36-month look back and penalty period for transfers made by individuals applying for Aid and Attendance benefits. The simple solution is to divest excess assets prior to the effective date of the proposed bill.
The preferred method is to transfer assets to a divestment trust outside the name of the veteran and the veteran’s spouse (if any). Funding an asset protection trust would also start the clock running on the current five-year Medicaid look-back.
This Newsletter is considered general information and is not intended to constitute individual legal advice. Please contact us if you think the information herein impacts you directly. We look forward to speaking with you soon.
