November 11, 2016
Veterans Benefits (Aid & Attendance) Explained
There is a lot of confusion over how to qualify for the Aid and Attendance Veterans Benefit. Many people do not even realize that there is a veterans benefit that will pay for long-term care cost. In this 30 minute video I will explain what they Aid & Attendance VA benefit is, the requirements to qualify, and how to qualify even if other people say that you have too much assets or income. Is a VA accredited attorney it is my job to help veterans qualify for this benefit, while often times I find the VA only puts hurdles between veterans and their benefits. So, watch the short video, then give us a call if you have any questions or want to sign up for one of our free life care planning workshops, where we talk about veterans benefits and Medicaid.
https://player.vimeo.com/video/191186332?title=0&byline=0VA Benefits Explained 2016 from Chris Berry.
The Five Requirements to Qualify for the VA Benefit
Verify requirements qualify for the veterans benefit. If you meet all of the qualifications you can receive an additional $2120 per month, tax-free to pay for long-term care. The five requirements are as follows.
First, the veteran needs to have served 90 days active duty. Next, the veteran needs to have had one of those days during a period of conflict, which is World War II or the Korean War. Third, the veteran cannot be dishonorably discharged. Fourth, the veteran or surviving spouse needs to have more long-term care costs going out, and income coming in from social security or pension. The fifth requirement is an asset test, where the VA will look at the countable assets the veteran or surviving spouse has. The veteran or surviving spouse has more than $30,000-$60,000, then most likely they will not qualify.
However currently there is no look back period, meaning if the veteran or surviving spouse has $300,000, we can move those assets in the veterans asset protection trust to qualify for the VA Benefit, and we could bring in an additional $2120 per month tax-free pay for long-term care.
If you want to learn more about the veterans benefit and how we can bring in additional money to pay for long-term care than attend one of our upcoming LifeCare planning workshops.
