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Home » Financial Planning » Benefits for Disabled Veterans

Benefits for Disabled Veterans

June 15, 2011Financial Planning, Special Needs Planning

Although many of the benefits that are available for disabled veterans are for those that sustained service-related injuries that led to a disability, there are benefits available for veterans with non-service related disabilities. One of those programs that are available for veterans with non-service related disabilities is the Aid and Attendance Benefit Program.

The Aid and Attendance Benefit Program is for those that are disabled, but wish to remain in their own home. In many cases, the amount of financial assistance that a veteran can get through this program is enough to supplement their income so that they do not have to enter a nursing facility.

Though this program may not provide enough assistance to pay for a full time in home health aid, it can help with living expenses so that a spouse or other relative can remain at home and care for the disabled veteran. It is also possible for this program to pay for a part-time health aid for the home, or for adult day care.

To qualify for the Aid and Attendance Benefit Program, the veteran must have served at least 90 days in the service, and at least one of those days must have been during wartime. The veteran does not need to have served in combat in order to qualify for this program.

Additional qualifications include: an honorable discharge, plus the veteran must be at least 65 years old, or disabled. The medical expenses of the veteran must be those that qualify for reimbursement from the program. Furthermore, there are some income limits, but with the Aid and Attendance Benefit Program, there are no rules that regulate the transferring of assets out of the veteran’s name.

The amount of financial assistance available to help pay for expenses depends on the determined need of the veteran and their spouse, but it currently cannot exceed $1,949 per month. For this reason, when applying for these benefits, it is important that you include all necessary expenses, including medical and living expenses, as it will be these expenses, along with income that determines benefit amount.

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Michael Robinson, Estate Planning Attorney
Michael Robinson, Estate Planning Attorney
Clients notice Michael Robinson’s unique approach to his estate planning practice the minute they walk through his office doors.
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