Comprehensive long-term planning involves preparedness for any and all contingencies that you may face during the latter stages of your life. Considering that 70% of people who attain senior citizen status will need long-term care at some point in time, this is something that you have to plan for in advance.
Long-term care is very expensive and Medicare does not pay for it so most people would welcome any assistance that may be available to them.
With the above in mind, veterans who served honorably during times of war may qualify for a veterans benefit called the Veterans Aid & Attendance Special Pension. This pension exists to assist qualified veterans who need help with their day-to-day needs.
To qualify, in terms of length of service, you must have served at least 90 days with a minimum of one of these days taking place during a time of war. Of course, you have to be able to medically prove that you need assistance. Your assets cannot exceed $80,000 but valuable personal possessions, such as your house and vehicle, do not count toward this figure.
Veterans A & A can really help to defray your long-term care costs because a single veteran may receive up to $1,632 per month and a qualified couple may be entitled to as much as $1,949 every month.
If you are a veteran who is looking to create a comprehensive plan for the future, take action right now and arrange for an informative consultation with a licensed and experienced Kansas City elder law attorney.
Author, President and Founding Attorney
Parman & Easterday