Page 51 - Senior Link Magazine Spring 2019- Online Magazine

HONORING SENIORS
Big Changes to available to qualify in the future, but you need to seek

advice now, before the need for care is immediate.
VA Pension 3. The home is still exempt, but the amount of attached land we
can exempt is now limited to two acres.

This is a big one for us in West Texas and all of rural America.
Previously, we could exempt from countable assets the entire
YOU NEED TO PLAN NOW TO QUALIFY value of all the land attached to an applicant’s primary
residence – even a farm or ranch. Under the new rules, exempt
by Nathan Ziegler land is now limited to two acres attached to the home.
Attorney-at-law Ruling yourself out for this benefit could be a costly

mistake!
If you or someone you love is a wartime veteran or the As with any government benefit, the rules are complicated.
surviving spouse of one, there is a benefit called VA Non- And as I like to say, all the rules are true, except when they’re
Service Connected Pension with Aid and Attendance that not! There’s so much fine print to the VA Pension rules that
could be available to you to pay for long-term care. In our you really shouldn’t count yourself out for the benefit without
firm, VA pension is often the missing piece of the puzzle for seeking the advice of someone who works in this area day in
our clients who need in-home care or assisted living. What and day out.
can this benefit pay for? A lot! It’s a new, tax-free income
stream for those who qualify. And it comes directly to you, But because of the recent rules changes, many of our
not to any facility or health care company. You get to decide veterans or surviving spouses will not qualify unless they
how to spend it. plan ahead for this benefit. To find out if you or your loved
one could be eligible for the VA Pension now or in the future,
Tax-free monthly benefit amounts for 2019: call my office today. A member of our VA planning team can do
a 20-minute over-the-phone assessment to determine if you or
Filing Status Monthly Benefit someone you love could be eligible for this important benefit.
Surviving Spouse of Veteran $1,209 Call Nathan Ziegler & Associates today at 806-765-8801.
Single Veteran $1,881
Veteran with Spouse/Dependent $2,230
2 Veterans Married to Each Other $2,984

Big Rules Changes: For Most People, Qualifying Will
Require Planning Ahead
If you’re a wartime veteran or the spouse of one, it’s
important to know that new qualification rules for this
benefit were just implemented in October 2018 that make it
harder to qualify.

Let’s go over the biggest changes:
1. There is now a fixed net worth limit of $127,061, including
annual income.
Previously, there was no fixed asset limit for this benefit.
Instead, the VA used a mysterious, behind-the-scenes
calculation to determine allowable net worth, which
included one’s age, life expectancy, and medical expenses.
This change is welcome in many circles because it provides a
clear limit.

2. 3-year look-back for “gifts” – asset transfers out of
the applicant’s name will be penalized with a period of
ineligibility.

Some of the strategies for eligibility that involved reducing
net worth are no longer available when the veteran needs
care now. This is why it is so important to plan ahead!
If your current net worth would keep you from
qualifying in the future, there may be strategies still

Lubbock Senior Link 51