Veterans may qualify for a VA Pension or VA Compensation, so applying for benefits should be an essential part of your estate plan. Uniquely You can help you understand the application and eligibility process and determine the best choice of benefits for yourself, your caretakers, and surviving family members.
Veterans Compensation
This tax-free financial payment is made to Veterans with disabilities from active military service, including disease or injury during active military service. It includes:
- Dependency and Indemnity Compensation (DIC) to Veteran survivors
- Special Monthly Compensation (SMC) for the Veteran, their spouses, and parents
These funds help veterans who can’t support themselves due to disabilities. Spouses of Veterans can also receive benefits for caretaking in their household. Some additional benefits include housing and insurance. Qualification is based on the level of disability, not income.
Veterans Pension
VA Pension benefits provide financial support to wartime veterans and their survivors. They may be eligible if they are:
- At least 65 years old, or
- Suffered a permanent and total disability, or
- Living in a nursing home for long-term care because of disability, or
- Receiving Social Security Disability Insurance (SSDI) or
- Supplemental Security Income (SSI)
You must not have been dishonorably discharged, and your annual family income must meet mandated limits.
Your service must meet certain criteria:
- Active duty started before September 8, 1980, serving at least 90 days on active duty, with at least one day during wartime, or
- Active duty as an enlisted person started after September 7, 1980, serving at least 24 months or the entire period ordered to active duty (with some exceptions) with at least one day during wartime, or
- Served as an officer and started on active duty after October 16, 1981, without previously serving on active duty for at least 24 months.
Contact us to apply and qualify for Veterans’ benefits.
Dawn DiManna, Esq., has over 15 years of legal experience helping clients in New Hampshire understand estate planning, elder law, asset protection, long-term care, proactive and crisis Medicaid planning, and Veterans planning. She began Uniquely You to help families discover ways to keep loved ones out of court and conflict and avoid financial collapse after a death or disability.
Veterans estate planning involves preparing for your future by considering your estate, healthcare needs, long-term care costs, and potential Veterans benefits. A comprehensive plan may help veterans and their families understand available benefits, protect assets where appropriate, and ensure important financial and healthcare decisions are addressed.
Eligible veterans may qualify for benefits through the U.S. Department of Veterans Affairs(VA), including VA Pension, VA Disability Compensation, Dependency and Indemnity Compensation (DIC), and Special Monthly Compensation (SMC). Eligibility for these benefits depends on factors such as military service history, disability status, income, and other VA requirements.
VA Pension provides financial support for certain wartime veterans and survivors who meet specific age, disability, service, and financial requirements. VA Compensation is generally a tax-free benefit for veterans with disabilities connected to their military service. The eligibility requirements and application process for each benefit are different.
VA Pension eligibility depends on several factors, including wartime service requirements, age or disability status, income and asset limits, and discharge status. Veterans or surviving spouses may qualify if they meet the requirements established by the Department of Veterans Affairs.
An attorney can help veterans and their families understand available benefits, review eligibility requirements, prepare necessary legal documents, and coordinate Veterans planning with their overall estate plan. Proper planning can help ensure decisions about healthcare, long-term care, and asset management are addressed.
Including Veterans benefits planning in an estate plan can help ensure you understand available resources before a health or financial crisis occurs. Planning ahead may provide more options for addressing long-term care costs, protecting your family’s future, and making sure your wishes are followed.
