Ask Val

September 17, 2010

Veterans, Spouses and Widow(er)s

My parents are in the process of completing Estate Planning and Asset Protection.  I have learned so much over the past few years with my Grandfather in the nursing home and the loss of another family.

Both wills had to be probated and while my family members thought they had planned well, we realized there was so much available we missed out on.

For instance. My Grandfather was a Veteran of World War II and would have qualified for Veterans Benefits.  He survived the great depression, worked hard all of his life and made wise financial decisions only to find out his money and assets would cause him to be a “private pay” patient at the nursing home. Lots of money going out monthly, nothing coming in.

He was told he did not qualify for VA benefits due to his income. This is not true. He and my Grandmother could have possibly received $1949 per month from the time they were in their mid to late 60’s. My Grandmother died at age 87 and my Grandfather died at age 93.

This money would have helped defer the costs of private sitters so they could remain in their home as long as possible. It would have also been a great help for assisted living and then nursing home expenses. I want to share this with you in hopes your Veteran or Veteran’s Spouse does not miss out on one of the few benefits available for their unselfish sacrifice to our freedom.

A Veteran or Veteran’s Surviving Spouse may be eligible for the VA Aid and Attendance Benefit to help pay for Home Health Care, Assisted Living Facility Care or Nursing Home Care.

Even if you have been told that you are not eligible due to income or asset limitations, there may be strategies to assist you in qualifying for this benefit.

Who is Eligible?

* The Veteran and The Veteran’s Surviving Spouse

An Eligible Veteran:

*Served 90 days or more active duty, with at least 1 day during a time of war

*Discharged from service, with no less than an honorable discharge

Periods of War:

*World War II December 7, 1941 – December 31, 1946

*Vietname Era August 5, 1964 – May 7, 1975/February 28, 1961 – August 4, 1964 (in Republic of Vietnam)

*Korea June 27, 1950 – January 31, 1955

*Persian Gulf August 2, 1990 through date to be prescribed by Presidential proclamation or law

This little known benefit may pay as much as:

Married Veteran (Veteran + Spouse): $1949 per month tax free

Single Veteran $1644 per month tax free

Surviving Spouse $1,056 per month tax free

If you, a relative or friend needs more information about this valuable benefit, contact Valerie Springer. I will be happy to provide you more information. Hoping to spread the word.

Don’t trust a friend, CPA or general attorney for this information. You need to see an attorney who practices Elder Law. I will be happy to refer you, I work with some of the best in the business.

Also, I am an expert in  HECM Reverse Mortgage. It is not for everyone but for some, it is absolutely a life saver.

If you are searching for more information on the above topics please contact Valerie Springer .

www.vshomeloans.com

Yours to Count On,

Valerie Springer

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