We have spoken many times about the non-service related benefit offered by the Veterans Administration knows as "Pension". Pension has many levels and many names. You may have heard it referred to as Aid & Attendance, Housebound Benefit or Pension Benefit. It is always nice to find someone else talking about this under utilized benefit for our vets. I recommend reading "VA Benefits For Long-Term Care of Veterans and Their Surviving Spouses" on the estateplanning.com website.
The Pension Benefit could pay as much as $2,020 a month in disability income to a qualifying veteran household. A study commissioned by VA in 2001 estimated that, over the next 14 years, only about 30% of eligible veterans would apply for Pension. This is likely due to the fact that most veterans simply don't know about it. In fact, about a third of all seniors in this country, age 65 and older, could become eligible for pension under the right circumstances. That's how many elderly war veterans or their surviving spouses there are.
At Idaho Estate Planning we understand how to maximize the benefit or avoid a denial. We can also provide guidance for meeting the asset test. We provide the best strategies for reallocating assets through trusts or income conversions to allow for the best possible accommodation of assets for beneficiaries thus avoiding or reducing: taxes; family disputes; and, Medicaid penalties.
We are VA Accredited and we know how to help you get the benefits you earned through your greatly appreciated service to our country. Good planning is no accident. To secure your peace of mind as well as your family's future, get started now. Remember, good planning is no accident.