The Department of Veterans Affairs is proposing changing eligibility rules for VA Aid and Attendance Benefits. Specifically, it is proposing an asset limit, a look-back period and asset transfer penalties for applicants applying for pensions, like the Aid and Attendance benefit. Currently, there is no prohibition on transferring assets prior to applying for benefits.
The proposed rule would create a 36-month look-back period and a penalty period of up to 10 years. The penalty period would be calculated based on total assets transferring during the look-back period exceeding the new asset… Read the rest
In the case of Andover Village Retirement Community v. Cole, Mr. Cole admitted his mother to a nursing home. Mr. Cole, who was his mother’s agent under her financial power of attorney, signed one agreement as a “Responsible Person” that stated in the agreement that he was not personally liable for his mother’s unpaid medical expenses. Then, Mr. Cole signed an additional agreement with the nursing home stating that he was assuming financial responsibility for his mother.
After Mr. Cole’s mother died, the nursing home sued him for unpaid expenses. The Court found that each agreement must be treated… Read the rest