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 question
Accredited VA Attorney David Wingate has written a FREE HANDBOOK on VA Benefits , if you desire a copy please visit the Senior Life Care Planning's website or email at email@example.com, or call the Frederick Office at 301 663 9230.Tags: Accredited VA attorney, elder care attorney, elder law attorney, life care planning, senior life care planning, VA, VA claims, va pensions, VAGA, veterans, Veterans Benefits, veterans surviving spouses