Having a comprehensive understanding of the resources that you have to draw from is key when you are formulating a plan for the future. It is not fair to expect the typical layperson to be apprised of intricate rules governing certain benefit programs, and this is of course where expert advice comes in.
Without tapping into professional expertise you may actually overlook some of the benefits that you are eligible to receive, especially if you are a veteran. One of these is the Veterans Aid & Attendance special pension. This benefit will provide a monthly payment intended to defray assisted living costs if you can qualify.
Veterans A & A is available to wartime veterans that require living assistance who can demonstrate some modicum of financial need as it is defined by the program rules.
Decisions are made on a case-by-case basis, but the stated upper resource limit is $80,000. However, it is important to understand that many valuables don’t count toward this figure including your place of residence and your vehicle.
The benefits that veterans may be entitled to are actually quite varied, including a retirement pension after 20 years and of course this can be invaluable as a long-term financial underpinning.
Knowledge is power and informed planning is the key to a comfortable future. If you would like to sit down and discuss your unique situation with an expert, simply take a moment to arrange for an informative consultation with an Indianapolis elder law attorney who has a background assisting former military service personnel.
Paul A. Kraft, Estate Planning Attorney
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.
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