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Philadelphia PA Estate Planning Blog

Tuesday, June 19, 2012

BREAKING NEWS: Congress Considers Stricter Rules For Veterans Pensions Qualifications

Veterans pensions are available to veterans who are over 65 or disabled and have served in an active duty war zone. The program can provide the veteran, his or her spouse or kids several thousand dollars per year. There are strict limitations on income and resources. However, the program has never had a “look back period” like Medicaid, meaning you can transfer assets to a trust or out of your name to qualify immediately for this benefit.

However, as a result of the apparent abuse of this program, Congress is considering establishing a look-back and penalty periods for pension claimants who transfer assets.

Read more about the story here:  http://www.nytimes.com/2012/06/06/us/veterans-pension-program-is-being-abused-report-says.html?_r=2&ref=us


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The Law Offices of Jeremy A. Wechsler assist clients with Estate Planning matters in Willow Grove, PA as well as Abington, Hatboro, Dresher, Horsham, Bryn Athyn, Huntingdon Valley, Fort Washington, Jenkintown, Glenside, Oreland, Warminister, Wyncote, Ambler, Elkins Park, Flourtown, Philadelphia, Warrington, Cheltenham, Gwynedd Valley, Jamison, Feasterville Trevose, Richboro, North Wales, Blue Bell, Lafayette Hill, King of Prussia, Collegeville, Oaks, Phoenixville, Oxford Valley, Langhorne, Penndel, Bristol, Fairless Hills, Bensalem, Plymouth Meeting, Furlong, Philadelphia County, Bucks County and Montgomery County.

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