The VA Pension benefit numbers just came out, increasing 2% for those veterans who qualify.
The VA has many different programs, but two dealing with monthly payments.
The first program for monthly payments is called “Compensation,” which helps those injured while serving their country.
The second program is called “Pension,” which generally provides payments to help veterans and their dependents with high medical costs (very useful in the elder law arena). This is the area we primarily deal with in our practice. Both of our attorneys are certified VA planning attorneys.
The following represents the maximum payments available under the Pension program.
Veteran with One Dependent
Basic Pension: $1,436/m
Aid and Attendance: $2,169/m
Basic Pension: $1,096/m
Aid and Attendance: $1,829/m
Surviving Spouse of Wartime Veteran
Basic Pension: $ 735/m
Housebound: $ 898/m
Aid and Attendance: $1,176/m
This increase is good news for anyone looking to help an elderly or disabled veteran who served in an applicable time of war.
How can a veteran use these benefits?
Pension benefits are best used to help pay for an elderly or disabled veteran’s out-of-pocket medical costs.
Mom, age 78, is the unmarried surviving spouse of a wartime veteran. Mom needs in-home care to assist with her activities of daily living (ADLs) due to her failing health. In this scenario, mom may qualify for up to $1,176/m to assist with her in-home care costs.
Pension benefits can also be used to pay for the cost of an assisted living facility as well.
Call today to schedule a VA planning meeting with one of our attorneys. Don’t leave money on the table.
817.638.9016 or RWeaver@weaverlegal.net