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Author Topic: Life Insurance & Net Worth Question  (Read 1341 times)

care4vets

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Life Insurance & Net Worth Question
« on: March 26, 2012, 01:37:21 PM »

Hi,
I'm helping my friend fill out the EVRs just sent in March for Initial Year & 2011 (1 Combined Sheet) & a separate one for 2012; they're still working out her benefit level.  She received a life insurance payment from her deceased husband that was excluded from her income by the VA in her initial award letter.  On the EVR, I assume I need to include it again on her "all other income" for the Initial Year in Section 7 and explain it was one-time and previously excluded by the VA.  Then I assume I need to include what remains of it in today's 'net worth' total.  Do I need to explain on the 'net worth' line this includes the insurance money?

Thanks for your help!
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Fit2009

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Re: Life Insurance & Net Worth Question
« Reply #1 on: March 26, 2012, 05:42:10 PM »

It wouldn't hurt- better to be very clear
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