Recently the Veterans Administration issued proposed changes in the Federal Register that would:
- Impose a 3 year look back for transfers of assets, including gifts to persons, trusts or purchases of annuities,
- Deny claims for up to 10 years due to transfers,
- And exempt only the home and two acres from net worth. If a claimant’s property exceeds two acres, it will count toward the net worth figure for eligibility.
Counting excess acreage attached to the home place is going to seriously hurt our rural clients and farmers – the original backbone of America.