“Why can’t I give my assets to my wife so I will qualify for VA Pension?”
The VA Pension or “aid and attendance” has a limit on the amount of assets an applicant can have. Some veterans who have “too much” will ask:
Why can’t I just give the asset to my wife and I still qualify?
The reason is if you have assets — a lake house, an investment, a cd, etc — that disqualify you, then giving it to your wife won’t change anything. Because the VA looks at the assets of the veteran and his wife combined. The VA doesn’t care whose name is on the asset — it looks at the combined family assets.
Do understand there are many ways to qualify even if you have too many assets — the VA allows us to do certain things to qualify and we will be happy to discuss these. There are advantages and disadvantages to all of these options and you need to think through them carefully.
Especially since Alabama Medicaid has completely different rules and you must understand both sets of rules or have a legal advisor who can create a detailed road map for you so you can see which path to take to accomplish your goals.
If you or your loved one lives in Alabama and you have questions about whether you or they may be qualified for this benefit, or you want to prepare now to be qualified in the future, give us a call at 205-879-2447 or contact us online. We can set up a meeting or send you a free information package about this benefit.