In our country we have a tradition of honoring those men and women who served in the military. That tradition extends to offering very valuable benefits to Veterans and their families. Unfortunately, VETS sometimes are not aware of all of those benefits. One of the benefits most often overlooked is something called a Veteran’s Pension. It is available to a Veteran or surviving spouse whose service included at least one day during a time of war. However, that service need not have been overseas, and the VET need not have been injured in comabt. Many frail senior VETS can qualify for this monthly benefit, especially if they have ongoing need for care. For example: if the VET needs care at home, or must reside in an Assisted Living Facility due to his/her need for assistance, it is very likely that the VET might be eligible for this pension, sometimes called an “Improved VA Pension” or an “Aid & Attendance Pension”. The benefit can be as much as $1,949 per month for a VET and spouse. There is an asset tests and an income test, but a VET in need may be abl to take planning steps to accelereate eligibility. Our firm may be able to assist in this effort. Check out our Video, where Attorney Gene Osofsky touches upon this in greater depth.
Also, check out this month’s article in AARP Magazine which briefly discusses 8 benefits available to Veterans.