LONG TERM CARE OF VETERANS CAN BE A HUGE STRESS ON FAMILY MEMBERS. THE COSTS OF SUCH CARE ONLY ADD TO THAT BURDEN. WITH CAREFUL PLANNING WITH AN EXPERIENCED VA BENEFITS ATTORNEY, YOU CAN GET THE CARE NEEDED WHILE PRESERVING A SPOUSE'S LIFESTYLE AND PROVIDING A LEGACY INHERITANCE
WE CAN HELP YOU OR A LOVED ONE QUALIFY FOR ADDITIONAL VA PENSION BENEFITS
Many veterans and their spouses don't realize that they may be eligible for pension benefits and additional allowances (more money) from the United States Department of Veterans Affairs ("VA"). Eligible wartime veterans or a surviving spouse can receive a monthly cash benefit from the VA if they meet certain service, financial, and medical requirements.
Service Requirements
Generally to be eligible, the military veteran must meet three requirements: (1) served on active duty for 90 consecutive days, (2) during a declared war, and (3) discharged for a reason other than dishonorably.
Financial Requirements
To be eligible, the household income (including any spouse and dependents) must be less than the VA benefit being sought. Additionally, total household assets must be less than the current limit set by the VA (currently $130,773 in 2021). This requirement is extremely technical as not all assets are counted and not all income is included, which is why it is advisable to use a VA benefits lawyer to assist you in meeting the technical requirements.
Medical Requirements
To be eligible for a basic VA pension, the applicant must be over age 65 or disabled. Additional money is given if the applicant is in need of regular assistance of another person, is blind, is in a nursing home, or is homebound.
By meeting these various requirements, an eligible veteran or their surviving spouse may qualify for a VA basic pension, an additional housebound allowance, or an additional Aid and Attendance allowance. We help clients qualify for these VA benefits by employing proven, effective planning strategies to meet these income and asset tests. By qualifying for VA benefits, you or your loved one can get the financial assistance and medical care they need without the family stressed out over having to provide for the needed care and assistance.
WE CAN HELP YOU PROTECT YOU FROM BECOMING IMPOVERISHED WHILE YOUR SPOUSE IS IN NURSING HOME CARE
People often believe that you must spend everything you make and dispose of all you own in order to qualify for the long term care you need. Both of these beliefs are false. Particularly when only one spouse needs care and the other does not, the VA does not require one spouse to become impoverished for the other to receive care. By analyzing the couple's income and assets, and by applying the VA's technical rules, we can help maintain one spouse in their present condition (or close to it) while providing the care needed for the other spouse. As you can imagine, this is a huge relief to both spouses.
WE CAN HELP YOU PROTECT YOUR ASSETS FROM THE NURSING HOME
We help clients balance their own potential, future medical needs with their desire to leave a inheritance legacy to their loved ones. Often people believe that this is an either-or scenario, but it does not have to be. It is possible to set aside some assets that are protected from future medical and nursing home costs, and even future creditors, whether financial or lawsuit creditors. These set-aside assets can serve as an inheritance to pass down to loved ones. Often the funds still be accessed in an emergency. Best of all, by planning in advance, we can still help you remain eligible for VA pension benefits.
Ready to talk with us about your needs? Contact us today at 979-703-7014.