Those who serve in the Armed Forces routinely engage in heroic acts for the benefit of our country. While no reward can ever be truly sufficient given the sacrifices involved, veterans do receive certain benefits that can come in quite handy when they reach their senior years.
One of these is the Veterans Aid and Attendance special pension.
According to the United States Department of Health and Human Services most people who reach the age of 65 are going to need some form of living assistance eventually. Nursing homes are exorbitantly expensive, after all and Medicare won’t pay the bills.
Any assistance would be welcomed by many seniors and their families. This is where the Veterans A & A pension comes in.
If you can demonstrate that you have some degree of financial need and you have medical documentation stating the fact that you cannot handle your day-to-day tasks on your own you may qualify for this benefit as a former service member.
The length of service requirement is just 90 days. However, a minimum of one of these days must have taken place while the country was involved in a war.
At the present time a veteran who qualifies for this benefit may receive a monthly payout of up to $1732. A married couple that is eligible may qualify for as much as $2054 each month.
This benefit is also extended to the surviving spouse of a qualified veteran. The spouse of an eligible veteran can receive up to $1113 per month to help defray assisted living costs.
Few attorneys truly understand the planning options with Veterans A & A. To find out more about qualifying for this important benefit you can call our office for more information.
Larry Parman
Author, President and Founding Attorney
Parman & Easterday
Since founding Parman & Easterday in 1985, Larry has led over 1,000 free, community-service education programs and helped more than 10,000 Oklahoma families go from putting off their estate plan to getting it done. His goal for every client is the same: to become the person their family calls "the one who took care of everything."
Larry is the author of three books: The Straight Shooter's Guide to Estate Planning; Estate Planning Basics; and Guiding Those Left Behind in Oklahoma. He served as Oklahoma's Secretary of State and Secretary of Commerce, and his firm is the only member of the American Academy of Estate Planning Attorneys in the state.
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