In this Elder Law Minute, from our Veterans Pension Series, Wes Coulson discusses the VA asset limit for qualifying for VA benefits and answers these questions:
- What is the asset limit for qualifying for VA benefits?
- How much can I keep and still be eligible?
Understanding the VA Asset Limit
Hi, I’m Wes Coulson with your Elder Law Minute. We’re continuing our series on Veterans Pension Benefits. I’m often asked the question, “What is the asset limit for qualifying for VA benefits? How much can I keep and still be eligible?” Interestingly enough, the VA does not have a one-size-fits-all asset limit. It’s never more than $80,000, but most often it’s less. The VA decides that on a case-by-case basis by doing something called an “age analysis.” Basically, what they’re looking for is the older you are, the less money they figure you need in reserve and the closer you’re able to come to being able to pay your own medical and care expenses without the VA’s help, the less assets that you need in reserve. Happily, we understand this process well enough to replicate it. So, if you’re working with us, we will be able to safely tell you what your individual asset limit is. Thanks.
For more from the Veterans Pension Benefits series, visit these articles:
- Levels of Benefits
- Difference between Service Connected Disability and Pension Benefits
- Military Service Requirements for Establishing Eligibility
- Will the VA approve a Look-Back rule?
- Protecting your residence while establishing VA benefits
Dent-Coulson Elder Law is dedicated to providing families in the St. Louis area with their Elder Law needs. Our practice areas include Asset Preservation Planning, Veterans Benefits, Medicaid Eligibility, Alzheimer’s Planning, Special Needs Planning, Estate Planning and more. We understand the financial challenges you may face as you and your loved ones grow older. At Dent-Coulson Elder Law, our clients’ well-being is our number one priority. For immediate help, call (877)995-6876 or Contact Us and we will get in touch as soon as possible.