We are proud to be certified by the Veteran’s Administration to represent America’s Veteran Heroes and their surviving spouses as part of our comprehensive Estate and Life Care Planning services.
A veteran and his/her surviving spouse may be entitled to tax free income benefits from the VA if they need assistance with their activities of daily living such as bathing, walking, eating toileting and dressing. The veteran must have met the “Service” requirement which means he/she must have served for 90 days of continuous service with at least one day during a declared war. The veteran or surviving spouse must also meet the “Disability” requirement which is presumed for those over 65. Finally, the veteran or surviving spouse must meet the “Means” test meaning they must have income and assets within a certain level.
This benefit is a special monthly pension called “Aid & Attendance“. This benefit is based on a person’s assets and income. If the veteran himself is seeking the benefit, there is a complex formula which looks at both spouses incomes and subtracts unreimbursed medical expenses to see if one is eligible for the benefit. When a person’s income and assets exceed the threshold, we assist clients, through education and estate planning, how they can legally preserve their assets and still qualify for the VA benefit. This is similar to tax planning, but this VA benefits planning is for America’s Middle Class heroes.
For those also looking to qualify for Medicaid at some point in the future, it is very important that BOTH VA benefit planning AND Medicaid planning be done together. The rules and requires are such that planning ONLY for one, will disqualify for the other. VA benefits are currently undergoing a massive restructuring that requires advanced planning that was not required in the past. Please give us a call if you are a veteran, or a veteran’s widow to discover your entitlement.