PREC 9-95    Impact of Inherited Life Estate on Income and Net Worth for improved Pension Purposes     Citation: Vet. Aff. Op. Gen Couns. Prec. 9-95, VAOPGCPREC 9-95, 1995

QUESTION PRESENTED:

Must the value of a life estate in real property acquired by inheritance be included in determining annual income and net worth for improved-pension purposes?

HELD:

The value of a life estate in real property acquired by in­heritance generally would not constitute income for improved-pension purposes.  The value of a life estate acquired by in­heritance would be considered in evaluating a claimant’s estate for improved-pension purposes, except to the extent
that the property serves as the claimant’s dwelling.  In de­termining whether a claimant’s estate is a bar to entitlement to improved pension, a determination must be made on all the facts of the individual case as to whether it would be reason­able that a part of the claimant’s estate be consumed for his or her maintenance.