VA Aid and Attendance pension can be a valuable source of funding for long term care. Veterans, spouses, and the surviving spouses of veterans may be entitled to a monthly pension benefit from the Department of Veterans Affairs.
Aid and Attendance pension benefits could pay your loved ones anywhere from $1149 to $2120 per month.
We are experts in VA pension law, and have helped many hundreds of families afford care that would otherwise be cost prohibitive.
Assisted Living and Home Care are expensive. A Dementia unit can cost $6,000 per month. Home care can cost several thousand dollars per month. In most cases, a veteran’s income is not sufficient to pay for their care.
Currently, VA regulations permit advanced planning that can save families thousands, or even hundreds of thousands, dollars in care expenses.
Because VA regulations might be changing in the near future, it is important to contact a trusted source of information before you submit an application for benefits. Understanding how current and future VA regulations intersect with Medicaid eligibility may be the difference between immediate eligibility and private paying through a penalty period.
Before you make gifts to your loved ones to meet VA benefit eligibility, it is crucial to understand the potential consequences of those gifts. Too often we hear families tell us that they thought they could make a gift because it was less than the IRS gift exemption. Unfortunately, IRS regulations are only one consideration when creating a plan to pay for long term care.
VA Legal Team can provide you a complete assessment of VA benefit eligibility. You will understand how any asset and wealth preservation plans impact future Medicaid eligibility and inheritance tax.
As with any asset or wealth preservation plan, the earlier you implement the plan the more likely you will be to reap the powerful benefits such plans offer.
Proven and legal strategies exist to protect the family home and still pay for care. While these strategies are not common knowledge, experienced practitioners can guide you and your family in the right direction.
It’s true that knowledge is power. Having the correct knowledge necessary to make an informed and timely decision is a valuable asset.
Contact VA Legal Team for a free consultation.