Transfer of assets to qualify for Aid and Attendance

Discussion in 'General Discussion' started by Allenrain, Jul 5, 2014.

  1. Allenrain

    Allenrain Guest

    My mom was advised to convert her assets into an irrevocable trust in order to qualify my father for the VA Aid and Attendance benefit. Is this legal? Could I (her daughter) be the trustee? What are the drawbacks? My father is being placed in a dementia care facility at a cost of $5,000 per month, and Mom doesn't want to spend all of their savings. She is looking at assisted living for herself in the not-too-distant future.
     
  2. magnumpi28

    magnumpi28 Jr. Member

    There was a very lengthy heated debate on here a couple years ago between two experts on the A&A benefit, about what you legally can do and what you morally should do when it comes to transfer of assets to qualify for A&A.
    In an ironic twist of fate, Debbie, the site administrator, a champion of Freedom and veteran rights intervened and stop the debate however if you do a search you should find it in the archives and it probably will answer most of your questions, then you will need to decide for yourself between what you can legally do and what you should do morally.

    PS. To Debbie's credit, she did let it go on a very long time before she put her foot down and it was the only time i can ever remember her intervening in all the years i have followed her website.
     

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