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Veterans Benefits

More often than not, veterans walk away from their time of service without fully understanding what unique benefits are available to them. For spouses or children who end up needing to take care of the veterans in their lives, knowing what health care aid is set aside just for our veterans can be a lifesaver.

Veterans and widows/widowers of veterans can qualify for home health care, assisted living, or nursing home care assistance under the Veterans Administration Aid and Attendance Pension Benefits Program. Those qualified may receive a pension or survivor’s benefits as well as additional funds to pay for medicine. Total received could be up to $22,000 per year, tax-free.

In order to qualify, the veteran or the widow/widower must meet the following requirements:

  • The applicant is over 65 years old.
  • The veteran has to have served in the military for one day while at war.
  • Veteran must not have a dishonorable discharge.
  • The veteran must have served in the military for 90 days.
  • The veteran requires full-time care and assistance for daily living.
  • We are experienced in helping veterans and veterans’ families receive their rightful, earned medical assistance, and we help families plan for using their benefits when the time comes. Adding these benefits as part of your estate planning will greatly help your loved ones as they try to find suitable care for you when the time comes.

What are the requirements to obtain Aid and Attendance?

  1. The veteran has to have served in the military for one day during a war.
  2. The veteran must have served in the military for 90 days.
  3. The veteran must not have received a dishonorable discharge.
  4. The veteran must need assistance with activities of daily living.

Is there a lookback period if I have to give away assets?

Yes. After October 18, 2018 there is a penalty period for any transfer made within 36 months of the date of application. The maximum penalty period is five years.

Is the surviving spouse of a Veteran sometimes eligible for such Veterans’ benefits?

Yes.

Will the Veterans’ Administration try to recover against excluded assets, such as a home or car, after death if benefits are received?

No. This different than the Medicaid rules as explained above.

What assets are exempt?

The amount of acreage that is exempt as homestead is limited to 2 acres, unless the remainder of the property is deemed unmarketable. The 2020 limit net worth is a maximum of $130,772.00. Net worth is defined as a sum of assets and annual income less medical expenses.

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