VA Aid & Attendant Care Planning

Did you know that many Veterans and/or their surviving spouses might be eligible for a monthly benefit of up to nearly $2,000.00 per month to help pay for their long-term care costs (i.e., homecare, assisted living, etc.) if they meet the following criterion:

The veteran served during wartime, even if they were not in a combat area;
The veteran or their surviving spouse is over 65 years of age;
The veteran or their surviving spouse is homebound, in assisted living or in a nursing home; and
The veteran or their surviving spouse meets the asset and income limits.

VA Aid & Attendant Care Planning is the processes of helping a veteran or their surviving spouse meet the 4^th item. Many believe that they have to "appear" financially ruined to meet the income and asset limits. So, they give their life's savings to a loved one.

By doing so, they lose control over their life's savings. In most cases, the veteran or their surviving spouse recognizes that their loved one could use the money for their own needs, but trusts that they will not do so. In many instances, that trust is not misplaced. But what would happen to their life's savings if that loved one becomes divorced, incapacitated, dies or files for bankruptcy? In that circumstance, the veteran and/or their surviving spouse could lose access to their life's savings forever.

For people who don't trust the loved one or are worried about losing access to their life's savings because of the reasons listed above, they do nothing. Then, when the veteran or their surviving spouse needs financial assistance to pay for their long-term care costs, they do nothing and lose everything.

There are numerous rules, frequently conflicting, that determine who is eligible for VA Aid & Attendant Care Pension. VA Aid & Attendant Care Planning involves advising clients about what those rules are and applying the rules to their financial situation. The goal of VA Aid & Attendant Care Planning is to protect the client's rights and maximize the pension that a wartime veteran or their surviving spouse can receive.