Changes to Veterans Service Pension Benefits Qualifications
Posted on Apr 14, 2014
Veterans Service Pension Benefits may be affected by changes proposed by Congress. Our Veterans Disability attorneys in Raleigh want to ensure retired military persons in North Carolina understand how eligibility for government benefits may change:
What may happen to individuals applying for Veterans Benefits is a delay in benefits. A period of ineligibility is being proposed by Congress for individuals who have transferred assets during the 3 years prior to their application for Veterans Benefits. Transferring assets encompasses: Making gifts (to family or otherwise), asset transfers to annuities, trusts, and other investments. The month that assets are transferred would mark the beginning of ineligibility. The period of ineligibility will not last longer than 3 years, and it may be less. Ineligibility will be calculated by dividing the total amount of asset transferred by the applicant's base amount of benefits.
These changes would affect Veterans Service Pension Benefits and not Veterans Disability Benefits. A veteran collecting disability is also entitled to service pension benefits (as well as Social Security benefits).