Veterans Affairs Pension Aid & Attendance Benefits
VA Aid & Attendance Program is a benefit available through the Department of Veterans Affairs to assist veterans and their widows in paying for medical expenses. It is only available to veterans, or widows of veterans, who served during a war period, such as World War II, Korea, Vietnam, or the Gulf War. There are approximately 24 million people that could qualify for this VA pension benefit, but, unfortunately, most will never learn of this solution to paying for medical and long-term care expenses. We encourage veterans and family members of veterans to contact us today to learn about eligibility for VA benefits in connection with paying for long term care.
In addition to meeting service requirements, eligibility for VA Aid & Attendance benefits is income and asset based. However, unlike Medicaid, there is a shorter “look back” period for transferring or gifting away assets immediately prior to applying for benefits. Aid & Attendance benefits can be very substantial to a family, and they are tax free income available to those who honorably served our country. Planning for VA pension benefits takes into consideration a veteran’s income and assets, a veteran’s desire to make gifts, other needs and desires to transfer assets, and the tax consequences of any proposed transfers or other actions. In assisting veterans, Jordan Alford offers comprehensive Estate Planning and Medicaid Planning that include maximizing VA benefits when possible.
Have questions about protecting and planning for the elderly?
We can help. Contact us today at (770) 628-1892.