Posts Tagged ‘Improved Pension Benefit’

Article 43-Estate Planning Series: How the VA is Changing the Rules for Veterans to Receive the Improved Pension Benefit – Part 3

Written by Wright Law on . Posted in Estate Planning, Improved Pension Benefit, Veterans

In recent columns I have explained the improved pension benefit available to many veterans or to spouses of veterans.   However, the qualifications will be changing. This is the last of three columns explaining what I expect the most significant changes to be.

Article 41-Estate Planning Series: How the VA is Changing the Rules for Veterans to Receive the Improved Pension Benefit – Part 1

Written by Wright Law on . Posted in Estate Planning

For veterans struggling with low income and/or high out of pocket medical costs, the improved pension benefit can be an important source of assistance.  It is my hope that the information provided in the last few columns can help veterans who have sacrificed so much for us. 

However, before moving on to other planning issues, I need to explain some changes that are likely coming.  I do not know for sure when these changes will occur, but the changes could be effective as soon as February 2016.

Article 40-Estate Planning Series: Why You Can Qualify For The Improved Pension Benefit Even If Your Income Is Too High

Written by Wright Law on . Posted in Estate Planning

In the last several columns I have addressed how some veterans or surviving spouses can qualify for untaxed pension benefits.  I addressed which veterans are eligible and the requirements to qualify.  This included the limit on assets and income a veteran can have and still qualify.

Last column I described just how little income a veteran could have and still qualify.  If the veteran is single, he or she can have an income of only $12,868.  If married, the combined annual income cannot exceed $16,851.  Unfortunately, many otherwise qualified veterans or spouses may see these numbers and assume they do not qualify for a benefit.  That would be a mistake.

Article 39-Estate Planning Series: The Income a Veteran Can Receive and Still Qualify for the Improved Pension Benefit

Written by Wright Law on . Posted in Estate Planning

In recent weeks I have been addressing the improved pension benefit, a tax free cash payment that may be available to senior age veterans.  This benefit is “need based,” meaning applicants (which can include the spouses of deceased veterans) must show their income and their net worth (meaning their assets minus their debts) do not exceed certain thresholds.  This column will address how the VA considers the income of an applicant.

Article 38-Estate Planning Series: The Assets a Veteran Can Own to Qualify for the Improved Pension Benefit

Written by Wright Law on . Posted in Estate Planning

In recent weeks I have been addressing the improved pension benefit, a tax free cash payment that may be available to senior age veterans.  This benefit is “need based,” meaning applicants (which can include the spouses of deceased veterans) must show their income and their net worth (meaning their assets minus their debts) do not exceed certain thresholds.  This column will address the assets that an applicant may own.

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