Wartime veterans and widows or widowers are typically unaware that they are entitled to a special monthly pension called Aid and Attendance through the Veterans Administration. The pension requires that applicants meet a disability test, although the disability does not have to be service connected. Often applicants are seniors who cannot conduct self-care activities of daily living due to conditions such as Alzheimer’s disease, Parkinson’s, ALS (Lou Gehrig’s disease), multiple sclerosis, dementia, or frailty.
The pension pays out a monthly benefit to help defray the cost of long term care. The benefit may be used toward home care, assisted living, or nursing home costs. It can be extremely helpful in extending an individual’s stay at home with care and delaying the necessity of entering a nursing facility.
Applicants may qualify based on a military record of at least 90 days of active duty with at least one day occurring during wartime. Financial requirements include an income limit that is adjusted each year and an asset test based on an applicant’s anticipated life expectancy.
To qualify for the benefit, applicants must comply with the filing procedure specified by the Veterans Administration, including filing certain mandated VA forms.
BOOKBINDER LAW, LLC provides distinctive service in this area to our veterans and their widows or widowers.
We bring a broad view, considering options for care and payments sources, when evaluating the advantages of VA benefits to protect our clients’ best interest.
We look at potential conflicts with other programs such as Medicaid, which can cover long term care expenses.
Unlike many other veterans advisors, we do not endorse financial products that may impact eligibility for benefits without examining and fully explaining potential conflicts with a client’s overall financial goals, including concerns with liquidity. Obtaining an advocate in this specialized area can avoid unintended costs.