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One of the most common questions we get is "How much can my parent have in assets?"
While comments on the internet will lead you to believe that you can't have more than $80,000, the VA regulations have something different to say about that.
The analysis below, prepared by the VA, states that in 2014, 40 people received the Pension with Aid and Attendance Benefit when they had more than $119,000 in assets - quite a bit more than $80,000. In 2014, many clients of Elder Resource Benefits Consulting and the Servaes Consulting Group, LLC were granted the Pension benefit with more than $119,220 in assets – 39 of them to be precise! We have highlighted the applicable paragraph in yellow for you in the attachment.
To determine if you are eligible to receive the benefit when you have more than $80,000 in assets, further development must be done on your application – development that we are very familiar. The largest amount of assets any of our clients had in their own name and successfully received the benefit was $248,000 – a surviving spouse private paying in a nursing home.
You can find out what asset level we recommend filing at by scheduling an appointment with one of the intake consultants at ERBC.
And remember – if you pass the other tests, you will be able to have at least $80,000 in assets.
For representation before the VA, ERBC refers to Servaes Consulting Group, LLC so you can be assisted by a VA Accredited Agent.
Neither Elder Resource Benefits Consulting nor the Servaes Consulting Group, LLC is affiliated with the Department of Veterans Affairs or any other government agency. Elder Resource Benefits Consulting and the Servaes Consulting Group, LLC are not Veterans Services Organizations.