People who serve their country in the United States Armed Forces do us all a great service and they certainly take risks and make sacrifices. Though it can never be enough, there are certain benefits that veterans may be entitled to that can help them when they become senior citizens.
One of these is the Veterans Aid & Attendance special pension. Most people have heard of the military retirement pension that service members are entitled to for life after 20 years of service. This special pension is something entirely different, and someone who was receiving a military retirement pension could conceivably qualify for Veterans A & A as well.
This benefit is available to veterans who need assistance with their day-to-day needs. To qualify you must provide medical documentation that proves that you do in fact require living assistance.
In terms of length of service veterans who have served for even one day during a time of war out of a total stint of at least 90 days qualify.
As of this writing there is an upper resource limit of $80,000. However, according to the Veterans Benefits Administration rules governing the Veterans Aid & Attendance special pension certain valuable possessions do not count toward this figure, including your vehicle and your home.
Given the high and rising costs of long-term care this benefit can provide many veterans with a nice boost each month and it is something to look into if you are a former service member who is in need of living assistance.
The Augulis Law Firm is a member of the American Academy of Estate Planning Attorneys.
Source: http://www.augulislawfirm.com/blog/estate-planning/veterans/
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