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How much money can you have per the VA requirements?

I want to know how much money a man can have, or stocks, etc. per the VA requirements. I am under the idea that $100,000 is about right.

Status: Open    Aug 18, 2015 - 12:35 PM

VA Benefits

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Aug 18, 2015 - 01:47 PM

The VA does not have a solid number for that. However, in my experience the VA will not typically look at anything above $80,000. Unless you can demonstrate that those assets are being depleted by medical expenses. The best thing to do is contact a local accredited representative in your area who is versed in Veterans Benefits who will provide assistance at no charge to you. Do not fall for the lawyer trick, they cannot get you benefits any faster just because you pay them in fact it is illegal to charge for the preparation of Veteran Benefits Forms.

Source: My Knowledge as a Veterans Service Officer, trained and accredidted in Veterans Benefits.

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By drjill on Jun 25, 2016 - 06:33 AM | Like (0)  |  Report

$80,000 in assets is correct. Be aware that they also look at income, which I believe is around $32,000. They look for a permanent, diagnosed disability as well.
As far as the maximum income, they will subtract certain deductions from that total income. Such as, insurance premiums, co-pays, Pee pads for incontinence, any out-of-pocket medical expenses. Be aware that they do not consider pharmaceuticals (Drugs) as permanent deductions, even if they are life-saving and you've been on them for 25 years.

I have enclosed a link for the VA pension information. There are many nonprofit organizations that will help you fill out the forms. As Matt mentioned, do not fall for the lawyer trick. The people in the VA center are very nice and they are helpful as well.

http://www.benefits.va.gov/pension/vetpen.asp

Most people will be denied their first petition (What do you expect? It's the government.) . Hang in there, and redo the numbers. You have up to a year to appeal.

Source: going through this process with my dad, and finding stumbling blocks

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Aug 19, 2015 - 07:46 AM

There is no hard and fast rule when looking at Aid and Attendance. The VA looks at the expenses versus the longevity of liquid assets with a specific algorithm. When I discuss the program with families, I generally quote "around $80,000.

Sep 03, 2015 - 05:22 AM

The largest amount of assets we had someone have in their own name was $248,000 - but, she was a surviving spouse in a nursing home, so her care costs were high - there were 40 awards granted in 2014 to people with over $119,2200 in assets. 39 clients of Elder Resource Benefits Consulting were grane the benefit with more than $119,220 in 2014, so your guess of $100,000 may very well be a great number.

The reason so many people think there is an $80,000 is that over $80,000 further development is required by the VA. Anyone with under $80,000 can get the benefit if they meet the other criteria, sometimes people will mistakenly think you have to have less than that, but there are regulations that allow you to have up to $80,000 if you use them.

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Aug 18, 2015 - 01:47 PM

The VA does not have a solid number for that. However, in my experience the VA will not typically look at anything above $80,000. Unless you can demonstrate that those assets are being depleted by medical expenses. The best thing to do is contact a local accredited representative in your area who is versed in Veterans Benefits who will provide assistance at no charge to you. Do not fall for the lawyer trick, they cannot get you benefits any faster just because you pay them in fact it is illegal to charge for the preparation of Veteran Benefits Forms.

Source: My Knowledge as a Veterans Service Officer, trained and accredidted in Veterans Benefits.

Comments (1) | New Comment

By drjill on Jun 25, 2016 - 06:33 AM | Like (0)  |  Report

$80,000 in assets is correct. Be aware that they also look at income, which I believe is around $32,000. They look for a permanent, diagnosed disability as well.
As far as the maximum income, they will subtract certain deductions from that total income. Such as, insurance premiums, co-pays, Pee pads for incontinence, any out-of-pocket medical expenses. Be aware that they do not consider pharmaceuticals (Drugs) as permanent deductions, even if they are life-saving and you've been on them for 25 years.

I have enclosed a link for the VA pension information. There are many nonprofit organizations that will help you fill out the forms. As Matt mentioned, do not fall for the lawyer trick. The people in the VA center are very nice and they are helpful as well.

http://www.benefits.va.gov/pension/vetpen.asp

Most people will be denied their first petition (What do you expect? It's the government.) . Hang in there, and redo the numbers. You have up to a year to appeal.

Source: going through this process with my dad, and finding stumbling blocks

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Answers

Aug 18, 2015 - 01:14 PM

This amount varies depending upon the claimant's income/expense relationship. Age is also taken into consideration.


Source: Alexandria Nail- CFEVR paralegal

Aug 20, 2015 - 07:50 AM

We were told by the VA gentleman that reviewed our application that it was $72,000 in Maine. My Aunt was told $80,000 for her application in Florida so perhaps it has increased a bit since 2013 or is different by state. We did the application ourselves and on the advice of a retired Marine who had been thru the process for his father suggested asking our state Senator to assist. They kindly wrote a letter and followed up frequently. We had a determination quite quickly this way and would suggest it to anyone applying. Their office was more than willing to help. The VA wants good reports and if a Senator or Congressman is watching the VA tends to speed things up.
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