Veterans Pension Planning

There are specific benefits available to veterans of our United States military. The most common benefit that most of us are aware of is disability compensation. This benefit, however, is just one of the benefits available to career servicemen and women who have an active service record and were discharged under conditions other than dishonorable.

The Veterans Pension exists to help disabled servicemen and women. Under the regulations set forth by the Department of Veterans Affairs, a senior who is 60 years of age or older is automatically determined to be disabled. This can be a benefit for seniors who need extra money each month in the form of the VA pension or assistance with medical or long-term care expenses. In fact, less than 20% of the eligible seniors actually claim Veterans Pensions.

There are three levels of VA Pension. First, there is basic pension. Basic pension provides the lowest amount of money each month. Next, there is the VA Pension with household benefits and VA Pension with aid and attendance benefits. In both of the latter two instances, the veteran is able to qualify for additional money from the VA each month to help pay for the cost of care needed. In some instances, this can include the cost of a long-term care facility.

The veteran’s income, however, can be reduced by the amount of allowed medical expenses the veteran has each month. In fact, the veteran can be seen to have no income when his or her allowed medical expenses are greater than his or her income each month.

When you decide to file for VA Pension be sure to speak with a VA Accredited Attorney first. Your VA Accredited Attorney will be able to answer your questions and guide you through the steps that need to be taken. We are VA Accredited Attorneys and are here to help you. Do not wait to call Hafford Elder Law Planning at 618-997-8989 or communicate with us through email.