New Asset Transfer Look-Back for VA Aid & Attendance Coming Soon: The Window of Opportunity is Closing Quickly!
This article is a compliment of THE LAW OFFICE OF JOHANN CHAU
Written by The American Academy of Estate Planning Attorneys
If you are accredited with the Veteran’s Administration, there’s an opportunity to act quickly to help some of your clients.
Background: The VA offers a valuable benefit to wartime veterans, i.e., those who served even 1 day in a time of war (which is much of the last century), served at least 90 days in one of the branches of the service, and did not receive a dishonorable discharge. If the veteran is age 65, and the veteran or their spouse needs assistance in daily living (such as bathing, dressing, feeding, or toileting) or is blind, in a nursing home, etc., they may qualify for a benefit that could exceed $26,000 per year, tax-free.