Estate & Asset Protection Attorney, Victoria Collier reviews the new VA Benefit Amendments and encourages veterans and their beneficiaries to act quickly to find out if their benefits will be affected.
DECATUR, GA, October 8, 2018: Victoria L. Collier, founder of The Estate & Asset Protection Law Firm, has posted a new blog on her law firm’s website entitled “Making Asset Transfers After October 18, 2018 Subject To VA Benefits Penalty,” in which Ms. Collier emphasizes the need for quick and correct action.
Collier urges, “Wartime veterans and beneficiaries who are considering transferring assets should do so before October 18, 2018, which is when the new amendments to VA benefits go into effect. “ She adds, “The new amendments include a three-year look-back period which effectively eliminates the ability to engage in last-minute planning with access to immediate benefits.”
“Additionally,” Collier writes, “there will be a penalty imposed for asset transfers after the new amendments go into effect on October 18th. The penalties can last up to 5-years.”
According to Collier, “New amendments also include a net worth test and revisions to allowable medical expenses that cover long-term care. Many veterans and their beneficiaries will be affected by these new rules.”
The entire blog can be read at https://www.elderlawgeorgia.com/making-asset-transfers-after-october-18-2018-subject-to-va-benefits-penalty/
About Victoria Collier
Victoria L. Collier, CELA founded The Elder & Disability Law Firm of Victoria L. Collier, P.C. to serve the legal needs of seniors when their health care needs increase. Victoria is also Co-Founder of Collier Scott Financial Solutions, LLC. At both firms WE BELIEVE that people should not have to lose everything they’ve worked a lifetime to earn and that every person is an individual who deserves respect and the highest quality of life possible, regardless of age or ability.
Victoria enlisted in the U.S. Air Force during Desert Storm, 1989-1995, and also served in the U.S. Army Reserves, 1Lt. 2001-2004, JAG Corps. Victoria is a national expert on the VA Wartime Pension for veterans and their widows who need additional assistance with activities of daily living and helping them qualify for and receive tax-free income from the VA to pay for it. Victoria graduated from Valdosta State University with a B.A. in Psychology and then University of Nebraska, College of Law. In 2014, Victoria was awarded with the Alumni Master Award from the University of Nebraska.
Victoria is a Certified Elder Law Attorney through The National Elder Law Foundation and has been named as the only attorney in Georgia as “Fellow” of the National Academy of Elder Law Attorneys (NAELA). Victoria was appointed by Governor Perdue to the Georgia Council on Aging, 2010 – 2016 and was awarded Dekalb County Veteran of the Year, 2013. She is the author of 47 Secret Veterans Benefits for Seniors; Paying for Long Term Care – Financial Help for Wartime Veterans: The VA Aid & Attendance Benefit. Victoria has co-authored several books: Blooper Episodes in Estate Planning, Don’t Go Broke in a Nursing Home, and Protect Your IRA: Avoid the 5 Common Mistakes. Most notably, Victoria co-authored the National Best Seller, The Road to Success, with Jack Canfield, author of Chicken Soup for the Soul series.
About The Estate & Asset Protection Law Firm
The Estate & Asset Protection Law Firm was established to serve the legal needs of retiring citizens. The Firm focuses its entire practice on providing strategies to protect independence, privacy, assets and taxes from the government. Victoria Collier has grown her law practice and financial services practice by providing excellent customer satisfaction with personalized wealth protection plans.