March 6th, 2015

Latest Articles

Proposed New VA Rules for Pension Benefits

Proposed New VA Rules for Pension Benefits The VA has a pension benefit to help certain financially eligible wartime veterans or spouses of deceased veterans. This pension benefit has come to be known as the Aid and Attendance Award. The VA has recently published proposed changes in determining who qualifies for this Award. The following is a brief summary of these changes. New Worth: The rules tie the net worth asset limit to the Medicaid Spousal Impoverishment level (currently $117,240) and increase it for inflation. Annual income is added to the net worth amount to determine eligibility. Example: An eligible spouse ...

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Alert: Congress Passes New Law to Help Disabled Youth

Alert: Congress Passes New Law to Help Disabled Youth Congress passed, and on December 19, 2014, President Obama signed the Achieving a Better Life Experience Act into law (ABLE Act). This is an incredible step forward for folks who become disabled before age 26. This new law will be an important part of the estate planning for any family with a qualified disabled individual. What is an ABLE account? The ABLE account amends the IRS Code to exempt from taxation a qualified ABLE account set up by a state to pay “qualified disability expenses” for a qualified disabled person. The term “qualified disability expenses” incl ...

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