URGENT! Drastic VA Rule Change begins 10/18/2018. Last chance to plan before the rules change!

Please help us spread the word!

If you know a veteran or a veteran of World War II, Korean War, or Vietnam War, or the surviving spouse of a veteran that served during World War II, Korean War, or Vietnam War, please forward this email to them!

Here’s the Bad News…

On September 18, the Veterans Administration (VA) published new rules that make it more difficult to qualify for an important benefit concerning asset transfers and income exclusions for needs-based benefits  ~ including the addition of a 3-year lookback period.

For example, any gifts that you made in the past 36 months, either to a family member or to an irrevocable trust, would be penalized. Likewise, an investment in an annuity would also be penalized. This means you could be prohibited from qualifying for VA pension benefits for up to 5 years, depending on the amount of the gift.

There are other requirements to the new rules, but the above are the most impactful to your case if you still wish to pursue these benefits, which would provide a cash benefit to help defray your cost of care.

Here’s the Good News…

You can still get under the old rules where there is no penalty for making gifts or transferring funds to a VA Asset Protection Trust BUT YOU MUST ACT QUICKLY! The new rules go into effect on October 18, 2018, and you must have ALL planning done and ALL transfers completed by October 17, 2018.

Who is this for?

This benefit may be applicable if you are:

  1. Either a veteran of World War II, Korean War, or Vietnam War, or the surviving spouse of a veteran that served during World War II, Korean War, or Vietnam War (see the Benefits Analysis Form below for exact dates); and
  2. Are over the age of 65 years of age (or will turn 65 before 10/18/2021); and
  3. If you (or your spouse) needs long-term care or ongoing care-giving assistance or may need long-term care or care-giving assistance within the next 5 years.

If you meet the above, here’s what you should do next:

  1. Download and complete our Benefits Analysis Form.
  2. Submit the form to our office for review.
  3. Our office will review your Benefits Analysis Form and then follow up with you to let you know whether we recommend a consultation to discuss this benefit further.
  4. If we recommend a consultation, you need to come in to see us as quickly as possible. While there is no obligation to move forward with planning after the consultation, if you do opt to proceed with planning, then we need as much time as possible to complete the planning before the October 17, 2018 deadline.

We will do our best to accommodate as many people as possible, but please understand that all appointments are offered on a first-come, first-served basis and as we get closer to the October 17, 2018 deadline, we may not be able to guarantee that the planning can be completed by the deadline.

Jackie Bedard
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Attorney, Author, and Founder of Carolina Family Estate Planning
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