When you are engaged in the process of estate planning you invariably recognize that it is important to prepare for the inevitable eventualities that you will face during your twilight years. Many people find it increasingly difficult to take care of their day to day personal needs as they advance in age, and they often reach the point where they need assistance with things like cooking, bathing, shaving, eating, etc. Some seniors will require in-home care givers to help them out, and others may be better served by taking up residence in an assisted living facility or nursing home.
These facilities can be the best option under some circumstances, but they can be very expensive, so it is a good idea to plan ahead just in case you do need living assistance someday. To this end, one thing that people who have served in the United States armed forces should look into is the Veterans Aid and Attendance Pension. This pension is available to qualified veterans who need assistance tending to their day to day personal needs, and it can be used to pay for nursing home or assisted living expenses as well as in-home care. The monthly benefit for unmarried veterans can be as much as $1,632 per month, and couples may qualify for a maximum of $1,949 each month.
The length of service eligibility requirements for the Veterans Aid and Assistance Pension are very modest. If you have served a minimum of 90 days on active duty in the armed forces, and at least one of them took place during wartime, you meet the requirements. To obtain more details along with the forms that you need to file for the Veterans A & A Pension, simply contact the United States Veterans Benefits Administration either online, by phone, or in person and a representative will be glad to assist you.
Mr. Kraft assists clients primarily in the areas of estate planning and administration, Medicaid planning, federal and state taxation, real estate and corporate law, bringing the added perspective of an accounting background to his work.