A very little known financial benefit for veterans who qualify is the Aid and Attendance benefit for those receiving or to receive in the future long-term care assistance. Kyle Jones, Financial Planner at Wamhoff Financial Planning and Accounting Services, outlines some facts to consider if you are eligible for veteran benefits.
- Serving 90 consecutive days in active duty military service with at least one day during a qualified period of war. Veteran does not need to have served in a combat role.
- Received a discharge other than dishonorable.
- You must pass the asset, income, and medical eligibility requirements
- For the veteran and spouse- $2,130 per month
- Veteran only- $1,730 per month
- Spouse of Veteran- $1,130 per month
- Benefits are exempt from taxation and do not expire
Who to consult to find out if you are eligible for veterans benefits?
- Veterans need to consult and work with a qualified elder law attorney. This should not be confused with a traditional estate planning attorney as elder law attorneys are qualified to do both types of estate planning.