People who devote time to military service make significant sacrifices, but they also obtain certain rewards. There are educational opportunities in the military, and you can obtain an education while you simultaneously build your resume as you serve your country.
There are also benefits that can help you after you leave the service. People who serve for at least 20 years can qualify for a retirement pension, and if you stay longer than this, your retirement pension will be greater.
In addition to the retirement pension, there is another pension that is called the Veterans Aid and Attendance special pension. The name of this pension is often shortened to Veterans A & A.
While the length of service requirement for the retirement pension is 20 years at minimum, things are different with Veterans A & A . To meet the requirement with regard to length of service, you must have served for at least one day during a time of war. Your total length of service must be at least 90 days.
The Veterans A & A pension exists to help qualified veterans who need help with their activities of daily living. This can be a huge benefit, because most senior citizens will someday require help with their day-to-day needs. The Medicare program will certainly help with things that are covered, but Medicare does not pay for custodial care.
Long-term care is extremely expensive, especially if you are residing full-time in a long-term care facility. The care can be less expensive if you engage a professional care giver to come to your home, but there are still significant costs involved.
When you are submitting your application for Veterans A & A, the evaluators will look at your financial status, because the program is intended for veterans who have a significant level of financial need. Your home is not considered to be a countable asset, and this is huge. Plus, your vehicle is not counted either, and your personal belongings and household effects would not be counted.
When it comes to things that are countable, the limit is $80,000, but each case is handled on an individual basis.
If you are single veteran who has gained eligibility for Veterans A & A, your monthly benefit could be as high as $1788. A married couple can receive up to $2,120 each month.
The surviving spouse of an eligible veteran can also qualify for the Veterans A & A special pension. The maximum benefit for a qualified surviving spouse is $1149 per month.
We have a valuable resource that you can access through this website if you would like to obtain more detailed information about the Veterans A & A special pension. Our firm has prepared an in-depth special report on the program, and you can access your copy free of charge through this page: Veterans A & A Report.
- Estate Planning for Millennials: The Right Time Is Now - February 20, 2024
- VA Veterans Pension: A Guide for Seniors and Disabled Wartime Veterans - February 1, 2024
- Navigating the Crossroads: Estate Planning After Divorce - January 16, 2024