Can a Vet transfer funds directly to his daughter?
There is no current asset transfer penalty, (unlike Medicaid, see our previous Blogs ) if the transfer was done prior to the date of entitlement (figure the date the claimant files the first piece of paper with the VA) and provided that the claimant has given up all rights of ownership, all rights to principle and income, and all rights to control.
However, the VA is now requesting documentation of all assets transfered prior to the date of a veteran’s application to show that all of these rights have been relinquished. But, how far back do we go, the VA does not state a time limit, ie five years for Medicaid? Birthday gift – thirty years ago?
To increase your monthly income, please contact us about a FREE HANDBOOK about VA Benefits, written by David Wingate, an accredited VA Attorney, of Senior Life Care Planning, LLC, go to firstname.lastname@example.org or if you require additional information about VA Benefits, visit our Senior LCP's Website.
We also have a Blog on Elder Issues and Veteran's Benefits.
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