Trusts are common techniques used to protect assets and to transfer the contents of an estate to the next generation. Importantly, trusts are taxed differently than individuals, and are subject to different tax guidelines. It is important for estate planning professionals to be mindful of the tax implications of trusts and to work to ensure that their clients’ assets receive the best available and most appropriate taxation per the IRS guidelines.

Thankfully, a VA Pension claim does not die with the claimant…for the most part.  The VA has finally published a final rule on the concept of “Substitution” which allows an eligible surviving family member to stand in the shoes of the deceased claimant and finish a pending claim. The rule has been in the United States Code for several years, but regulations had not yet been passed. See 38 U.S.C. §5121A.
 
When formally published in the Code of Federal Regulations the Substitution regulations will be located at 38 CFR §3.1010.  The final rule has an effective date of October 6, 2014.