Important Deadline for V.A. Benefits Next Week

Dear Clients and Friends -  Please read this time sensitive news for potential benefit. 

I wanted to reach out to you today and let you know about some changes in VA Pension regulations that may impact some of the veterans or spouses of veterans that you know. 

Effective Thursday, October 18, 2018, the VA Pension program will be implementing a 3-year look-back period where all asset transfers will be closely evaluated by the VA.

If the VA believes that the veteran or spouse transferred assets for the sole purpose of qualifying financially for pension benefits, the VA may impose up to a 5-year penalty on the veteran that would block the veteran from receiving the necessary pension benefits.

Additionally, the VA has made some modifications to their definition of “net worth” for Pension program purposes and this may impact some veterans and put them over the financial limit to qualify for pension benefits. 

Any asset transfers that are undertaken prior to October 18, 2018, will NOT be subject to the 3-year look-back period.

So, if you know of veterans or spouses of veterans that may be needing VA pension benefits or Aid and Attendance benefits in the immediate future generally used to cover the cost of nursing home-level care, I would love to talk to them and see if there are any changes needed to their financial planning strategies so they can potentially qualify for VA pension benefits.

Any asset transfers that are undertaken on or after October 18, 2018, will be subject to the 3-year look-back period. So, any veteran or spouse who may need VA pension benefits should have a qualified financial planner and VA accredited claims agent review their specific situation to get the wheels in motion. 

I have a colleague, Christina Clark, who is a VA accredited claims agent and disability advocate, and she will work with me to assist any veteran or spouses of veterans who have interest in learning more about these VA pension regulation changes and how it may impact them in the future.

Please call me at (954) 719-1151 to schedule a time to talk!
My e-mail address is: Unterbrink@usa.net also.

Warm Regards,

~Barry L. Unterbrink

Chartered Retirement Planning Counselor