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This Prince was no pauper

Update 5/2/2016: The Carver County, Minnesota District Court today appointed Bremer Trust as Special Administrator of Prin... more »

Better visit your aging parents if you live in China. (It's a good idea here, too)

China has a long history of respect for the elderly. An adult child who fails to care for his parents violates a key teach... more »

Don't sign the nursing home's mandatory arbitration clause

Admitting a loved one to a nursing home can be a deeply  emotional, troubling experience, but it is important to keep your... more »

Are you a married couple with an old AB Trust?

Setting up an estate plan requires making some of life's most serious decisions. Little wonder so many people procrastinat... more »

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Aid & Attendance lookback under consideration

6-10-2012 - The General Accounting Office has released a report suggesting that the Veterans Administration adopt an asset "look-back" period to determine eligibility for Aid and Attendance benefits. Aid and Attendance benefits provide elderly and disabled veterans financial assistance to cover the cost of long-term nursing home care, home care or assisted living.

Under current law, a veteran may have no more than $80,000 in allowable assets to qualify for Aid and Attendance. However, transfers of assets that occur before the application date are not examined or penalized. This is in contrast to the Florida Medicaid system, which currently imposes a  five-year look-back period on asset transfers.

No changes have been instituted as yet. U.S. Senators Richard Burr (R - N.C.) and Ron Wyden (D- OR) have indicated that they will introduce legislation in Congress  that gives the Veterans Administration look-back authority.  At this point, it is too early to know how such legislation would impact on clients' estate plans.

Click here for the current eligibility requirements for V.A. Aid and Attendance benefits. 

 

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