What if a home is sold AFTER Determination of Eligibility?

Discussion in 'General Discussion' started by NavyMansKid, Oct 6, 2013.

  1. NavyMansKid

    NavyMansKid Newbie

    If my mother sells her home after she has been determined eligible to receive the A&A benefits, and the sale puts her assets over the $80K threshold, could that put the benefits she receives in jeopardy? Is the determination made only one time and her financial situation never looked at again? I know there's no "look back" period, I guess what I'm asking is: Is there a look "Forward" period? She has very little in assets but her home and is relatively young at 71. But the cost of Assisted Living vs. the income she's bringing in will blow through what little she has very quickly. It may become necessary to sell her home and I'm concerned with how that might negatively impact receipt of benefits. New to all of this but so grateful for this forum and VeteranAid.org. Thanks to all for any insight you can provide!
     
  2. vetadmin

    vetadmin Administrator Staff Member

    Mom would have to report the income from the sale, and yes, if already approved, it could make her ineligible until such time she spends down on care to be eligible again.

    VA works very closely with SS and IRS, and can opt to do an audit at their choosing.

    So if the house sells, report the proceeds so that everything is on the straight-up. If they were to found out without being informed, she could be looking at not only being kicked out of the program, but owing money back.

    Glad to be here for you.
     
  3. NavyMansKid

    NavyMansKid Newbie

    Thank you so much for the advice and insight. I so sincerely appreciate it and all that you do for Vet families. Perhaps the only responsive beacon of hope, knowledge and wisdom in this ENTIRE process. I'm sure I'm not the first to have told you this. Many thanks again.
     
  4. vetadmin

    vetadmin Administrator Staff Member

    Thank you! I never get tired of hearing that what I do helps and makes a difference.

    To each of us, our loved-one is our own personal story, and I am honored to play a small part in that.
     

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