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Monday, December 22, 2014

What are the asset limits for VA qualification?

Although the VA states an upper limit of $80,000 in assets, in practice the limit usually is lower.  The VA's position is that you should be required to use some of your assets for your care.  Therefore, the amount you can have depends upon your marital status and life expectancy.  A married veteran will normally be allowed to keep more assets than a single veteran, or a surviving spouse.  For a single person the limit appears to be no more than $50,000 in assets.  In addition, a younger veteran with a longer life expectancy is usually allowed a higher level of assets than an older veteran.  The justification is that the older veteran doesn't have as many years left to pay for needed care, and therefore needs fewer assets.


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