The Department of Veterans Affairs (VA) offers several valuable benefits for veterans of the United States military, including pension programs, health care, disability compensation, education assistance, and post-traumatic stress order (PTSD) support. If you or a loved one is a veteran of the U.S. Armed Forces, you may wonder what benefits you are eligible to receive and when. Eligibility varies depending upon how each benefit was written into law, so it is important to know whether you qualify for certain benefits when considering estate planning or other long-term planning.
The Department of Veterans Affairs (VA) rates service-related disabilities in determining disability benefits. Those veterans with a disability rating of 10% or higher may qualify for monthly disability benefits. This benefit is not available to those veterans who were discharged under dishonorable conditions. For those veterans whose disability is classified as “very severe”, additional compensation may be available.
Veterans who meet eligibility requirements may receive health care benefits at VA clinics and hospitals located around the United States. Eligibility requirements are as follows:
The veterans pension is a need based benefit offered to qualifying veterans who are of limited income, or who have a permanent disability and the inability to work. To qualify for pension benefits, veterans must meet the following eligibility requirements:
Long-term and short-term care is provided in nursing homes for those veterans who are disabled or elderly and can no longer care for themselves. The Department of Veterans Affairs (VA) provides this care with priority given to those veterans with service-related disabilities.
Veterans benefits are an important financial asset and should be included in your overall estate plan. At Altman & Associates, our estate planning attorneys work with veterans and their families to design estate plans that incorporate veterans benefits and other tools to help you reach your long-term financial goals and provide for the future. Learn how we can help.