Veteran’s Day: Thanks From a Grateful Nation

2:35 pm Estate Planning

vietnam memorial e1320964599498 Veteran’s Day: Thanks From a Grateful NationWe are extremely proud of our nation’s veterans and try to honor their service to our nation every day; today is a special day to be sure we all are mindful of the sacrifices of our country’s veterans and their families.

One way we can help is to remind veterans of a little-known benefit for veterans of World War I, World War II, Korea, Vietnam and the Gulf War that could provide essential financial assistance to vets and their families.

The Veterans Aid and Attendance Benefit was created in 1951 and enhanced in 2001.  Funded by Congress, it is a pension for non-service related disability that can help pay for in-home care, nursing homes, assisted living facilities and independent living communities.

The pension can provide up to:

  • $2,540 per month for two married veterans
  • $1,949 per month for a veteran with a dependent or spouse
  • $1,644 per month to a veteran
  • $1,056 per month to a surviving spouse

To be eligible for this pension, a veteran must have served at least 90 days of active duty, received a discharge other than dishonorable and be over the age of 65.

According to the latest data, only one percent of the approximately 15 million eligible veterans have applied for this pension.  To date, Congress has allocated over $3 billion to the program.

Application must be made through the U.S. Department of Veterans Affairs (www.va.gov), and can take anywhere from four to eight months to be processed.  If approved, the benefits are retro-dated back to the application date.

For more information, California veterans should visit this website.

Get started by contacting our Orange County asset protection estate planning law firm as soon as possible.

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