Am I Eligible For Veteran’s Pension Benefits?
May 31st, 2022 in FAQs Categories: Elder Law and Veterans' Benefits
Veteran’s Pension Benefits
Many veterans we meet with are unaware of the potential Veteran’s Pension benefits that may be available to them. As a veteran, if you meet certain criteria, you or your spouse may be eligible for pension benefits.
Veteran’s pension benefits are often referred to as “Aid and Attendance.” However, this is only one type of pension benefit. There are also lower levels of benefits available for housebound individuals or those 65 years plus. The Veterans Administration looks to your level of medical need to determine whether you qualify for the improved pension, housebound, or aid and attendance level of benefits.
Your level of medical need is only one factor in determining the benefits available to you. The Veterans Administration also looks to your income and net worth as well as your service record. As a veteran, you must have served at least 90 consecutive days during a wartime period and been discharged in a manner other than dishonorably.
The VA will evaluate your net worth very closely. The VA often tells clients, prior to their meeting with us, that they are ineligible for benefits based on their current net worth. Unfortunately, the VA fails to disclose when and how individuals might become eligible for those benefits. Furthermore, the VA does not educate on the tools and solutions available to capitalize on such benefits. We routinely educate our clients on their options regarding the benefits available to them. We believe knowledge is power, and enjoy assisting our clients through this process.
Although these benefits won’t completely change your financial picture, they can help provide a higher quality of life for a longer period of time. If you or a loved one are a veteran and looking for assistance in receiving VA benefits, please reach out to us today to schedule with one of our attorneys.
Our attorneys are here to help you plan and strategize for the future of your business and your personal planning.