A Look At The Veterans A & A Pension

Those who are planning for the latter stages of their lives are tasked with the responsibility of trying to make projections with regard to the expenses they can anticipate. This is certainly a challenging endeavor because you never know what the future holds, and there are many factors that are out of your control.

The state of the economy, the tax laws, the ongoing viability of the Social Security system as we know it, and even the way that health care will be delivered in 5, 10 or 20 years are all questionable. In light of the unknowns, the best course of action is to educate yourself to the utmost and make full use of all the resources that are available to you.

One of these resources that many people are not aware of is the Veterans Aid and Attendance Pension. This pension is different from the retirement pension that veterans are entitled to after 20 years of service. Veterans A & A is in place to provide financial assistance to veterans who need help with day-to-day tasks like bathing, eating, tending to their personal needs, dressing, etc. To qualify one must have served in the Armed Forces during a time of war for a minimum of a single day during an interim of active duty that totaled at least 90 days.

The fact that the length of service requirement is so modest is one of the reasons why so many veterans who do qualify for the Veterans Aid and Attendance benefit would never think about looking into it. There are financial qualifications as well because the Veterans Aid and Attendance Pension is earmarked for veterans who have financial need. Your total assets must be less than $80,000 to qualify, however your place of residence and your vehicles are exempt and they do not count toward this figure.

The Veterans Aid and Attendance Pension can provide a single veteran with over $1600 per month to help defray long-term care costs and this could certainly be a big help. To ask detailed questions and obtain the necessary application forms you can visit the United States Veterans Benefit Administration at www.vba.va.gov.

About the Author:

To learn more about retirement plan and protect you from the cost of long term care, please visit the website of the experienced estate planning attorneys Indianapolis IN of the Frank & Kraft Attorneys at Law today.

Article Originally Published On: http://www.articlesnatch.com

Tags: retirement plan

, estate planning

, estate taxes

, elder law

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