Many people are not aware that the Department of Veterans Affairs offers assistance to veterans, their spouses and widows to help with assisted living and nursing home costs. This benefit is known as the Veterans Aid and Attendance Special Pension.
VETERANS AID & ATTENDANCE
People who have served in the military make a lot of sacrifices, but there are certain benefits that go along with service. Most of these are well understood, but the Veterans Aid and Attendance Special Pension is often overlooked.
Veterans are entitled to a retirement pension after 20 years of service, but this special pension is entirely different. The Veterans Aid and Attendance Special Pension may be available to veterans who need assistance with their day-to-day needs.
The length of service requirement is rather modest. If you have served for at least 90 days with one of the days taking place during a time of war, you meet the eligibility requirement in terms of length of service.
You do have to be able to prove that you need help with your activities of daily living, and you must have some modicum of financial need. Generally speaking, the upper asset limit is around $80,000, but your home and your vehicle would not count when the Veterans Administration is determining your eligibility.
Currently, a single veteran may qualify for up to $1,788 per month. A married couple could be eligible for as much as $2,120 each month. The surviving spouse of an eligible veteran could draw up to $1,149 per month.
ATTEND OUR UPCOMING FREE VETERANS SPECIAL PENSION WORKSHOP
We regularly offer workshops and seminars on various elder law and estate planning topics. On February 18th, we will be conducting our Veterans Special Pension and Medi-Cal Planning Workshop.
A very significant percentage of senior citizens ultimately require living assistance. Seven out of every 10 seniors will require long-term care eventually. A stay in a long-term care community or nursing home is very expensive, and in-home care can also carry a hefty price tag.
The special pension can be a big help, and Medi-Cal is also very important to many veterans who require long-term care. As you may imagine, the program rules and regulations are intricate. This workshop will provide some very valuable information about a rather complicated subject.
The workshop is being held at our Campbell, California office and it starts at 4:30 p.m. Though the session is free, we do ask that you register in advance. You can reach the registration page through this link: February 18th Veterans Special Pension Seminar.
- Beneficiary Designations and the SECURE Act: Eligible Designated Beneficiaries - April 16, 2021
- You Need These Five Estate Planning Documents - March 17, 2021
- Dealing with Stress and Anxiety (Video) - March 12, 2021