Answer: These are all very good questions and there are no specific laws or guidelines from which to follow (the VA is purportedly revising the instructions to be clearer).
I would not report regular gifts like holidays, etc. or to charity or gifts made a long time ago that when made were not in consideration of qualifying for VA benefits. However, if transfers of assets were made in order to qualify for VA benefits (i.e. a bank account was transferred from dad to child), then I would report that on the application form (Part XIII Remarks, block 45). I would put the amount, the date, and to whom the gift was made, and if true, a statement that the person who received the gift does not live in the same household as the veteran.
I would not report a transfer of any “exempt” assets, such as the house, cars, personal property.
Victoria L. Collier, Attorney at Law
Collier & St. Clair, LLP
Decatur, Georgia 30030
Member of the national ElderCare Matters Alliance, Georgia chapter
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