Spoke with va representative the other day. My understanding is at the time of application my mom would be eligeable for benefit if she has less than $135,000 assets. ( not including her home) , however when she does sell her home if the proceeds put her assets over $135000, the benefit is stopped until it goes below $135 again. Then she would have to reapply.
My mother is getting Aid and Attendance and she is in Assisted Living, Of course, along with her social security it still does not cover all the costs of the AL. We plan on selling her home which will put her over the VA $135,000 asset limit. She will be taken off the A&A until she spends down again to the limit. We just don't want her house sitting there empty ...
Bob, the benefits will not be stopped for good. Ask the VA how it works when you have to self pay until the assets are depleted.
Do they suspend the assistance or will you need to do the complete application again.
Yours isn't the 1st time they have dealt with this situation. It will be okay. You July need to speak with whomever is providing the assistance, you or the attorney but, I would ask myself 1st and avoid a big attorney bill.
Thank you. Apparently you need to start the application process all over again so trying to avoid this. Looking to pre-pay future medical needs as well.
Bobdunn, have you considered the issue of a trust for the med mal awards? Ask your elder law attorney about this. If he/she doesn't know, contact older attorneys (including ones who focus on trusts) for advice.
The funds could be held in trust specifically for long term care. I'm not very familiar with this method, but it's worth investigating. There might an alternate way to spending down the funds.
Awhile back I started the process of acquiring Aid and Attendance veterans benefits for my mom. My dad served in WW11.
There was a financial limit that a widow could have. If her money exceeded this limit, she was not eligible to even apply for benefits. So, the amount of money that you have in the bank is looked at.
Did the VA clearly tell you that you have exceeded this dollar amount?
Currently receiving benefits but we received a one-time settlement for a medical malpractice case that took us over the top. Can't spend it on aging care quickly enough.
We were advised to do this so that my mother-in-law could receive Aid and Attendance. However, her long term care policy is currently paying for assisted living. Can't you spend the money on their care until it's low enough to qualify? Or is this person wanting to give money away?
Are you sayings that your parents have accumulated to much money to remain eligible for VA benefits?
This question really needs to be asked to the social worker that has their case. There are variables that effect the answers and you really don't want to get this wrong. Speak with their case worker to ensure that they are not compromised by crowd sourcing information.
Thanks. We are talking to an elder care attorney since a one-time medical malpractice settlement took us over the limits and we can't spend it down quickly enough.
Do they suspend the assistance or will you need to do the complete application again.
Yours isn't the 1st time they have dealt with this situation. It will be okay. You July need to speak with whomever is providing the assistance, you or the attorney but, I would ask myself 1st and avoid a big attorney bill.
The funds could be held in trust specifically for long term care. I'm not very familiar with this method, but it's worth investigating. There might an alternate way to spending down the funds.
There was a financial limit that a widow could have. If her money exceeded this limit, she was not eligible to even apply for benefits. So, the amount of money that you have in the bank is looked at.
Did the VA clearly tell you that you have exceeded this dollar amount?
This question really needs to be asked to the social worker that has their case. There are variables that effect the answers and you really don't want to get this wrong. Speak with their case worker to ensure that they are not compromised by crowd sourcing information.
Are you talking about look back rules concerning Medicaid or VA?