VA Benefits Rules: Determining Eligibility, Valuation of Assets, Look-Back Periods, Transfer Rules, Penalties

This CLE course will provide elder law counsel with guidance on essential rules and planning techniques relating to the Department of Veterans Affairs (VA) benefits rules. The panelist will discuss issues in determining eligibility for VA benefits under current rules, valuation of assets, transfer rules, the impact on the use of trusts and annuities, and best practices to avoid penalties.

The VA rules significantly impact the eligibility for veterans and spouses to receive aid and pension benefits. Counsel must be fully versed in the rules to ensure clients are eligible for benefits and understand how to avoid or reduce the risk of penalties.

The VA offers benefits to veterans or surviving spouses to cover the costs of custodial care and activities of daily living (ADLs) subject to certain income and asset limitations. The latest rules alter the eligibility criteria, with added methods for calculating net worth and assets, in addition to other essential items, to determine benefits eligibility.

A variety of transactions can trigger penalties or render a veteran ineligible for benefits. Under the VA rules, the use of trusts or annuities and other planning techniques, along with specific transfer of assets, can negatively impact an application for benefits.

Listen as Colleen D. Bratkovich, Partner at Zacharia Brown, discusses the issues in determining eligibility for VA benefits, challenges in the valuation of assets, transfer rules, and best practices to avoid penalties.