The new rule change was set to be enacted in February of 2016, however it looks to be pushed back to later in spring according to recent VA Benefit gossip.

Nothing is for sure, but that’s the latest on the buzz about the new look-back period for the VA Benefit.

What Does the 3 Year Look-Back Period Mean for Veterans or Surviving Spouses of Veterans?

With the 3 year look back for veterans and surviving spouses of veterans, it means that families looking to get qualified for the VA Benefit will now have to a better job of planning ahead and contact their VA Accredited Certified Elder Law Attorney sooner to begin planning.  Crisis planning (planning when a loved one already needs care) will become more difficult and there will be a greater emphasis on planning ahead.

The planning we do as Michigan elder law attorneys for clients who need Medicaid may resemble the planning we’ll need to do for clients who are looking to qualify for the VA Benefit.  However, much is unknown since the final rules haven’t been published yet.  The proposed rule left some gaps and that is why I think the VA is taking their time with the implementation of the three year look back on asset transfers.

For example, one of the issues that was unclear from the proposed rules was whether they would grandfather in any prior planning or would the three year look-back period apply immediately.

Still lots of questions to be answered.

The post VA Benefit (Aid and Attendance) Rules Change Spring 2016? appeared first on The Elder Care Firm.

Selling the Home with VA Benefits

VA Benefit, but are concerned about what to do with the home.

The typical scenario is that mom was living on her own.  She breaks her hip.  Goes into the hospital, is discharged to a nursing home for rehab, covered by Medicare.  Then from the nursing home the family scrambles to find where she should go, because she can’t go home.

The family decides on an assisted living for mom’s long-term care.  At this point, with mom paying $3,000 per month in long-term care costs, the family struggles to find ways to pay for long-term care.  They discover the little known VA Benefit that can help pay for long-term care for a surviving spouse.  This year that benefit would be $1,149 per month.

However, the VA Benefit has an asset test and the home is an exempt asset so it doesn’t count towards the asset test.  But if mom qualifies for the VA Benefit, without any planning, then she has less than $30,000 in her name.  As the assets dwindle covering the short fall they look to sell their home.

Wouldn’t Selling the Home Disqualify Mom from her VA Benefits

Wouldn’t selling the home disqualify mom from the VA Benefit?  Not if the family takes legal steps to protect the VA Benefit.  The family, prior to sale, would consult with a VA elder law attorney who would then create a Veterans Asset Protection Trust and deed the home to the trust.  Once the home is deeded to the trust, the home could be sold, and the proceeds of the sale would be available to help pay for mom’s long-term care in her assisted living.

Another Benefit of Placing the Home in a Veterans Asset Protection Trust

Not only would mom be able to maintain her VA Benefit as a surviving spouse of a veteran, she would also be able to protect the proceeds of the home from Medicaid or Nursing Home spend-down.  The assets in a Veterans Asset Protection Trust do not count towards the Medicaid asset limit of $2,000, assuming mom makes it long enough without needing Medicaid.

This means that mom, if she needs nursing home level care can qualify for Medicaid to have Medicaid pay her base level of care, while having a pot of resources in her trust to improve her quality of life and pay for additional services.

Next Steps to Protect the Home

If you have a loved one who needs long-term care, could qualify for the VA benefit, and want to sell the home–but are afraid to because of a loss of VA Benefits, then give us a call (888) 390-4360.  The Elder Care Firm is the only law firm in Livingston County with a  VA Accredited Certified Elder Law Attorney.

The post How to Sell a House and Protect Your VA Benefits appeared first on Estate Planning Lawyers | Elder Law Attorneys | Brighton | Novi | Livonia Elder Law Attorneys.

Selling the Home with VA Benefits

VA Benefit, but are concerned about what to do with the home.

The typical scenario is that mom was living on her own.  She breaks her hip.  Goes into the hospital, is discharged to a nursing home for rehab, covered by Medicare.  Then from the nursing home the family scrambles to find where she should go, because she can’t go home.

The family decides on an assisted living for mom’s long-term care.  At this point, with mom paying $3,000 per month in long-term care costs, the family struggles to find ways to pay for long-term care.  They discover the little known VA Benefit that can help pay for long-term care for a surviving spouse.  This year that benefit would be $1,149 per month.

However, the VA Benefit has an asset test and the home is an exempt asset so it doesn’t count towards the asset test.  But if mom qualifies for the VA Benefit, without any planning, then she has less than $30,000 in her name.  As the assets dwindle covering the short fall they look to sell their home.

Wouldn’t Selling the Home Disqualify Mom from her VA Benefits

Wouldn’t selling the home disqualify mom from the VA Benefit?  Not if the family takes legal steps to protect the VA Benefit.  The family, prior to sale, would consult with a VA elder law attorney who would then create a Veterans Asset Protection Trust and deed the home to the trust.  Once the home is deeded to the trust, the home could be sold, and the proceeds of the sale would be available to help pay for mom’s long-term care in her assisted living.

Another Benefit of Placing the Home in a Veterans Asset Protection Trust

Not only would mom be able to maintain her VA Benefit as a surviving spouse of a veteran, she would also be able to protect the proceeds of the home from Medicaid or Nursing Home spend-down.  The assets in a Veterans Asset Protection Trust do not count towards the Medicaid asset limit of $2,000, assuming mom makes it long enough without needing Medicaid.

This means that mom, if she needs nursing home level care can qualify for Medicaid to have Medicaid pay her base level of care, while having a pot of resources in her trust to improve her quality of life and pay for additional services.

Next Steps to Protect the Home

If you have a loved one who needs long-term care, could qualify for the VA benefit, and want to sell the home–but are afraid to because of a loss of VA Benefits, then give us a call (888) 390-4360.  The Elder Care Firm is the only law firm in Livingston County with a  VA Accredited Certified Elder Law Attorney.

The post How to Sell a House and Protect Your VA Benefits appeared first on The Elder Care Firm.

As one of the few Certified Elder Law Attorneys in Michigan, give our office a call if you have a loved one who needs help paying for nursing home costs.  (248) 481-4000.

To qualify for the veterans benefit, sometimes called Aid & Attendance, in Michigan, a veteran or surviving spouse of a veteran must meet certain requirements.

1) The veteran must have served 90 days active duty,

2) The veteran must have served one day during a period of war,

3) Cannot be dishonorably discharged,

4) Paying more in long-term care costs then income coming in from social security or pension

5) Pass the resource test

If the veteran or surviving spouse meets all of the above requirements then they can qualify for over $2,000 per month, tax free, to pay their long-term care costs.

However, there are some things to keep in mind.

First, with the resource analysis, many times prior to coming into our office a family will be over the asset limit to qualify for the VA Benefit.  In situations like this, typically we put together a Veterans Asset Protection Trust where the family can retain control of the assets, however still qualify for the VA Benefit under the resource test.  Plus, this Veterans Asset Protection Trust helps the family also qualify for Medicaid if they should wish to bring in that governmental benefit as well.

Next, it is important to understand that your loved one needs to have long-term care costs that exceed their income.  The veteran or surviving spouse needs a doctor to say that they need the assistance of daily living activities and that they are now willing to pay to receive that assistance.

Last, keep in mind that the veterans benefit maxes out at just over $2,000 per month.  This benefit is great for paying for assisted living costs or home care costs, but when you’re paying over $10,000 per month in nursing home costs, Medicaid may be a better answer.  Medicaid can pay almost the entire cost of nursing home care, minus the private pay.

Do you have veterans benefits or Medicaid questions?  Call our office at (248) 481-4000 and we’ll be happy to answer your questions.

Christopher J. Berry is a Michigan elder law attorney Dedicated to helping seniors, veterans and their families navigate the long-term care maze. To learn more visit http://www.theeldercarefirm.com/ or call 248.481.4000

As one of the few Certified Elder Law Attorneys in Michigan, give our office a call if you have a loved one who needs help paying for nursing home costs.  (248) 481-4000.

To qualify for the veterans benefit, sometimes called Aid & Attendance, in Michigan, a veteran or surviving spouse of a veteran must meet certain requirements.

1) The veteran must have served 90 days active duty,

2) The veteran must have served one day during a period of war,

3) Cannot be dishonorably discharged,

4) Paying more in long-term care costs then income coming in from social security or pension

5) Pass the resource test

If the veteran or surviving spouse meets all of the above requirements then they can qualify for over $2,000 per month, tax free, to pay their long-term care costs.

However, there are some things to keep in mind.

First, with the resource analysis, many times prior to coming into our office a family will be over the asset limit to qualify for the VA Benefit.  In situations like this, typically we put together a Veterans Asset Protection Trust where the family can retain control of the assets, however still qualify for the VA Benefit under the resource test.  Plus, this Veterans Asset Protection Trust helps the family also qualify for Medicaid if they should wish to bring in that governmental benefit as well.

Next, it is important to understand that your loved one needs to have long-term care costs that exceed their income.  The veteran or surviving spouse needs a doctor to say that they need the assistance of daily living activities and that they are now willing to pay to receive that assistance.

Last, keep in mind that the veterans benefit maxes out at just over $2,000 per month.  This benefit is great for paying for assisted living costs or home care costs, but when you’re paying over $10,000 per month in nursing home costs, Medicaid may be a better answer.  Medicaid can pay almost the entire cost of nursing home care, minus the private pay.

Do you have veterans benefits or Medicaid questions?  Call our office at (248) 481-4000 and we’ll be happy to answer your questions.

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Michigan Veterans Benefits For Seniors

Many Michigan families do not realize that there are Veterans Benefits available to pay for home care, care contracts and assistance in the home for seniors.  As one of the few Certified Elder Law Attorneys in Michigan, my practice is devoted to helping seniors, veterans and their families navigate the long-term care legal maze.

A common mistake I see families make is that they wait to long to try to secure their Aid & Attendance veterans benefits.  It’s unfortunate because many times if they would have come into our Bloomfield Hills law office years ago, we could have had their VA Benefit turned on this whole time.

This means that families could literally be leaving thousands of dollars on the table.

For example, let’s say Joe is a senior veteran living in Troy, Michigan.  He’s living on his own, however his daughter helps him with some activities of daily living a few times a week for a couple hours a day.  Plus, he receives a couple hours of private duty home care from a commercial Oakland County home care company.

Let’s assume Joe receives $1500 per month in Social Security and has $300k in savings and a house.  He is paying the commercial home care company $1000 per month.

If Joe or his family were to go to a local veterans service organization, chances are they would tell him that he will not qualify for the full benefit (or any benefit) because he does not meet the income or asset tests.

However, if he were to come to our office, as a VA accredited attorney, I would counsel the family in setting up a Veterans Asset Protection Trust, Care Contract and submit the VA application on his behalf.  In the end I would be able to turn on a $1,700+ monthly tax free benefit.

It’s unfair that it is all in who you talk to and where you get advice from.  That is why you should seek advice from VA Accredited Certified Elder Law Attorneys.  There aren’t many of us in the state.

Michigan Veterans Benefits For Seniors

Many Michigan families do not realize that there are Veterans Benefits available to pay for home care, care contracts and assistance in the home for seniors.  As one of the few Certified Elder Law Attorneys in Michigan, my practice is devoted to helping seniors, veterans and their families navigate the long-term care legal maze.

A common mistake I see families make is that they wait to long to try to secure their Aid & Attendance veterans benefits.  It’s unfortunate because many times if they would have come into our Bloomfield Hills law office years ago, we could have had their VA Benefit turned on this whole time.

This means that families could literally be leaving thousands of dollars on the table.

For example, let’s say Joe is a senior veteran living in Troy, Michigan.  He’s living on his own, however his daughter helps him with some activities of daily living a few times a week for a couple hours a day.  Plus, he receives a couple hours of private duty home care from a commercial Oakland County home care company.

Let’s assume Joe receives $1500 per month in Social Security and has $300k in savings and a house.  He is paying the commercial home care company $1000 per month.

If Joe or his family were to go to a local veterans service organization, chances are they would tell him that he will not qualify for the full benefit (or any benefit) because he does not meet the income or asset tests.

However, if he were to come to our office, as a VA accredited attorney, I would counsel the family in setting up a Veterans Asset Protection Trust, Care Contract and submit the VA application on his behalf.  In the end I would be able to turn on a $1,700+ monthly tax free benefit.

It’s unfair that it is all in who you talk to and where you get advice from.  That is why you should seek advice from VA Accredited Certified Elder Law Attorneys.  There aren’t many of us in the state.

The post Michigan Veterans Benefits for Home Care appeared first on Elder Care Firm.