If my mother sells her house before moving into Assisted Living, does she have to count that money as income?
No, it does not count as income, but as soon as she puts it in the bank, it will become part of her net worth. If you mother has plans to sell her house, then it is always best to take care of these issues before applying for A&A. How she disperses the money from the sale is between her and her financial advisor, but any money she retains in savings accounts, CDs, IRAs etc. will be considered part of her net worth. As previously noted in earlier Blogs, there is no "Look Back" on Aid and Attendance .
Also, see another of our previous Blogs Aid and Attendance questions
Accredited VA Attorney David Wingate has written a FREE HANDBOOK on Veteran’s Benefits, if you desire a copy please visit the Senior Life Care Planning’s website at www.seniolcp.com or email at firstname.lastname@example.org, or call the Frederick Office at 301 663 9230.Tags: Aid and Attendance, asset protection, elders, life care planning, long term care, ltc, medicaid, Medical Assistance, non service connected pension, nursing homes, pensions military, senior life care planning, seniors health, service connected pension, VA, VA benefits, va pensions