When you are standing in the present attempting to prepare yourself for a time that is well off into the future you have to make projections. This makes retirement planning and budgeting for the twilight years that will precede your passing very challenging because no one has a crystal ball and there are always going to be a lot of unknowns. But there are two things that are necessary along the way if you want to do everything possible to be prepared. For one, you need to keep your finger on the pulse of financial and legal matters that are relevant to elder law. And secondly, you must have a comprehensive understanding of all of the resources that may be available to you.
Along these lines we would like to raise awareness about an often overlooked military benefit called the Veterans Aid and Attendance Pension. This benefit is available to eligible veterans who need assistance with their day to day needs, things like bathing, dressing, eating, etc. One of the reasons why so many people who qualify for Veterans A & A don’t realize it is because of how modest the length of service requirement is.
If you have served at least 90 days on active duty in the armed forces with a minimum of one of these days taking place during a time of war you meet the length of service requirement. If you qualify as a single veteran you can receive up to $1632 per month; a couple can receive as much as $1949 each month; and the surviving spouse of a qualified veteran may be entitled to $1055 per month.
If you think that you may qualify for the Veterans Aid and Attendance Pension, simply visit the United Stated Veterans Benefits Administration website to obtain the appropriate forms and access to more detailed information.
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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