Author: Stefans Law Group, P.C.
“As the world turns, so does the changes in how we can protect our clients. Due to the constant push for National Budget reforms, our Veterans Benefits and Medicaid, have come under severe pressure to make obtaining critical benefits more difficult for our clients in need. The article below is another example of how the VA pension benefits could soon be lost for many people that should otherwise need and receive them.
”Donna M. Stefans, Esq. of Stefans Law Group PC.”
Sen. Ron Wyden (D-OR) has introduced legislation that would require the Secretary of Veterans Affairs (VA) to impose asset-transfer rules on pension applicants. The bill, S. 3270, follows a U.S. Government Accountability Office (GAO) report that found abuses among a small group of attorneys and financial planners who help veterans transfer assets in order to qualify for the VA pension benefits. In its report, the GAO recommended that Congress consider establishing look-back and penalty periods for pension claimants who transfer assets, similar to the rules for Medicaid applicants.
The GAO unveiled its findings in testimony at a June 6, 2012, Senate hearing, where lawmakers also heard from a VA official, veteran’s advocates and a woman whose father was victimized by one of the unscrupulous “pension poachers,” as Senate aging committee chair Sen. Herb Kohl (D-WI) dubbed them.
About 200 organizations are marketing financial and estate planning services to help pension claimants with excess assets qualify for the VA’s Aid and Attendance and other pension benefits, the GAO concluded after a year-long investigation. Read More
From the Desk of Donna M. Stefans Esq. of Stefans Law Group, PC