Veteran Planning | Providence Estate Planning Attorneys

Veterans Planning

Statistics show that 52% of people turning age 65 will need some sort of long term care assistance in their lifetime and more than 65% of nursing home residents rely on government assistance such as Veterans Benefits or Medicaid benefits. Why? Because nursing home care is extremely expensive.

While some people have the means to pay out of pocket for long term care, or have long term care insurance, many of us are not in that position. One solution for our nation’s veterans, and their surviving spouses, is to plan for V.A. Aid and Attendance Benefits. Doing so will allow them to receive between $1,230 and $2,266 of tax free income benefits while safeguarding their assets for the well being of their family. Could your loved one benefit from $1,230 to $2,266 of tax free income?

What are the Legal Requirements to Qualify for Veterans Benefits?

Generally, the V.A. Aid and Attendance benefit is based upon a person’s income and assets and their status as a wartime veteran (or a surviving spouse.) While your current income and assets may exclude you from Veterans Benefits eligibility in the future, with proper planning, you can:

Transfer assets to beneficiaries
Preserve wealth for your spouse and children
Prepay funeral expenses
Rapidly accelerate your eligibility for Medicaid Benefits
Shelter your property from forced sales by the state

What Benefit is there to Starting Veteran's Benefits Planning Early?

In September of 2018, the Department of Veterans Affairs (VA) released new rules for non-service connected pension benefits like Aid and Attendance. Now there are strict laws regarding the transfer of wealth and assets including the implementation of a “3 Year Lookback.” You need to allow yourself sufficient time to meet the V.A. eligibility requirements. Otherwise, you will be denied benefits.

Our founding attorney, Jamison Bonds, is an experienced Veterans Benefits Eligibility Planning Attorney that has maintained accreditation since 2012 with the Department of Veterans Affairs to prepare, present and prosecute claims before the VA. Armed with his years of experience as a Long-Term Care Planning Attorney, Jamison can work within the complex web of rules and regulations surrounding Veteran’s Benefits eligibility and Medicaid Benefits eligibility in order to ensure the best possible results for your family. Act now to avoid the adverse impact of the 3 Year Lookback period. The quicker you begin, the more you can protect.

Schedule Your Initial Consultation Today.

Come on in. Let’s talk. There’s no preparation necessary and you don’t need to bring any paperwork – just bring yourself and your questions. During your consultation, we’ll help you decide which services are right for you and your family. Click below to book your appointment at our Fort Smith office.