How Changes to VA Pension Benefits Will Affect Wartime Veterans, Their Spouses, and Widows

The VA recently published new rules effective October 18, 2018 that will greatly impact many wartime veterans, their spouses or widows who are 65 years of age or older and their access to an important benefit used to pay for costs of care.
Chief among these changes is a 36 month "look-back" period and a penalty (or wait) period of up to a 5 years!
The net effect is that it will be more difficult to pursue these benefits and receive a monthly cash benefit to help with care costs.
There are other parts to the new rules, but the above are the most impactful (and harmful).
The good news is, anyone wishing to qualify can still take advantage of the current rules. But quick action is critical as their planning must be done BEFORE October 18th. Even if a veteran, spouse, or widow does not currently need personal care services, planning now can lock in favorable treatment for future application when they might need them.
In addition, do not assume that a veteran, spouse, or widow is financially disqualified due to their income or assets they own. There are a number of exceptions and exemptions along with new rules, so the calculation is not straightforward. Plus, using the right planning tools can assist in the qualification calculation, as well.
If planning prior to October 18th is an impossibility, then the next best option will be to address this sooner rather than later. Pre-planning will remain the focus moving forward to get clock started on the lookback period as well as any estimated penalty period.
If you you know anyone who is a wartime veteran 65 years of age or older or a spouse or widow of one, please share this important information so they can speak with an estate planning and elder law attorney familiar with VA benefits planning.
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