Individuals who spend some time in the service may be entitled to certain benefits that can be very useful later on in life. For one, if you serve for at least 20 years in the military, you become entitled to a retirement pension. This coupled with your Social Security benefit could go a long way toward providing you with the ongoing income stream that you need to enjoy your retirement in comfort.
Another benefit that is often overlooked is the Veterans Aid & Attendance special pension. If you can prove that you need assistance with your day-to-day living needs, and you served for a minimum of 90 days with even one of these days taking place during wartime, you meet most of the eligibility requirements.
The other part of the equation involves your overall financial resources. There is an upper resource limit of $80,000, but decisions are made on a case-by-case basis. Many of your most valuable personal possessions do not count toward this figure, including your home.
Some Veterans may be able to qualify for Medi-Cal as well, and this can come into play when you are making plans for the latter portion of your life.
All of these resources can be extraordinarily helpful, but the program rules can be complex, and combining benefits can be an intricate endeavor. If you would like to have your situation evaluated by an experienced professional, take action right now to arrange for an informative consultation with a San Jose elder law attorney who has a firm understanding of long-term planning for Veterans.
We also invite you to attend our upcoming free Veteran’s Special Pension and Medi-Cal Planning Workshop. For more information and to register, follow this link: Free Seminars and Workshops.
Latest posts by Litherland, Kennedy & Associates, APC, Attorneys at Law (see all)
- American Academy Awards Fellow Designation to Justin M. Kennedy – Kennedy Recognized for Outstanding Achievement in Experience and Service - August 16, 2019
- Clarity is Key to Planning - August 14, 2019
- How Much is Too Much? - August 7, 2019