$$$ Qualification Limit for Aid & Attendance

[dappledog]

My father(88 yrs) and mother(84 yrs) are both living and have recently moved into an assisted living facility.  My dad qualifies as he served in WWII although he is not a retired veteran.   My mother is currently in more medical need than my father but both need living assistance.  They sold their primary residence and have placed that equity (approx $125,000) in the bank.  My question is: When the VA does its review of the applicants financial status will it take the entire $125000 into consideration or does it divide the entire amount in half for a couple? ($62500 for each of them?) Since $62500 is less than the $80000 rule of thumb requirement, my guess is that each would qualify!?!?!?! HELP

[veteranadvocate]

Like most questions about VA benefits, there are no simple answers.  We like to provide copies of VA regulations whenever possible so that you will have something to refer back to.  I am attaching information about 'Income from the Sale of Property'. 

If you have any additional questions please feel free in contacting us.  I think the attachment will address most of your questions regarding the sale of personal property.