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If you are a veteran who served even one day during a wartime period (you can check this out on the Internet) you may want to inquire about VA Aid & Attendance or Housebound benefits. These enhanced pension benefits are available to veterans who meet certain income and asset limits and who also have medical problems that interfere with activities of daily living or confine the veteran to the immediate premises.
Lawyers who are certified by the VA can assist in helping veterans qualify for benefits. There is no charge for helping complete the application.
Although there has been some discussion that the U.S. Congress will enact a lookback period that will disqualify veterans who transfer assets out of their names, there is presently no such penalty. This means that veterans can place some assets in trust and still qualify for benefits.
The benefits for VA Aid and Attendance are substantial and are tax free. For example, benefits for a single veteran are $1,732 per month; married veteran, $2,054 per month; and widowed surviving spouse, $1,113 per month. Combined with Social Security payments, these benefits can make all the difference for veterans who need to pay for residence in assisted living facilities.
If you are a veteran and disabled it would be wise to check on your eligibility for these benefits. Contact us for a consultation if you need help in this area!