The VA Aid & Attendance

06 October 2010 / Government / 0 Comment

The VA Aid & Attendance benefit provides significant help to pay the medical expenses of Veterans and their spouses or their widows. This benefit can help keep the family together at home by assisting with the costs of home health care or it can help cover the costs of Assisted Living arrangements. There are some simple techniques that Veterans and their families can use to gift or transfer ownership of their assets so as to qualify for this benefit. The Veterans Administration does not penalize a Veteran for making a gift or a transfer.

However, before making any gifts or transfers. Veterans and their families must understand the impact these gifts and transfers create if they later need to apply for Medicaid. Medicaid will impose a penalty period for any gifts made within five years of applying for Medicaid benefits.

This does not mean you should not make any gifts or transfers. It just means you need to understand how to coordinate your actions so they don't create disastrous consequences for you and your loved ones.