Probate Litigation Attorneys
On September 18, 2018, the U.S. Department of Veterans Affairs (VA) issued Final Rule Number 8320-01, RIN 2900-AO73, which goes into effect on October 18, 2018. This Rule establishes new requirements for evaluating net worth, medical expense deductions, and asset transfers,and drastically changes the planning opportunities available for veterans and their surviving spouses.
Who is Eligible for a va pension?
The VA pension is available to veterans or surviving spouses of limited income and resources. The pension begins with a base rate and then increases depending on the number of dependents and whether the veteran or surviving spouse is housebound or in need of “aid and attendance” (i.e. assistance with at least two activities of daily living). A single veteran can receive between $13,166 and $21,962.00 depending on his/her rating and will increase based on the number of dependents. A surviving spouse without a dependent can expect to receive between $8,830.00 and $14,113.00.