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In recognition of their service, older veterans or their surviving spouses may be eligible for a monthly pension, which can be used to offset medical expenses. To qualify, the veteran must have served at least one day during a recognized period of war as part of a ninety day active deployment. In addition, the applicant must be over 65 years of age or permanently and totally disabled. There are household income and asset limits to qualify; however, with proper estate planning and utilization of the available exclusions and deductions, many applicants are capable of receiving this benefit, which would allow them to save a significant amount of money annually. Rather than allowing medical bills deplete their life savings, veterans can preserve their money for their spouses, loved ones, or charitable bequests.
Veteran Pensions differ from Medicaid in a variety of ways. VA pensions can be used to pay for at-home care, an assisted living facility or other unreimbursed medical expenses; whereas Medicaid pays only for nursing home care. Additionally, if you need to divest assets to qualify, the VA does not use a "look back" period, meaning you can implement your divestment plan and immediately apply for benefits.
The Veterans Administration requires any attorney who provides counsel in the preparation, presentation, or prosecution of claims to be accredited. Be certain that your attorney is accredited to provide advice in this area as not all attorneys who practice long term care planning have the training to assist you with VA benefits.
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With two offices in Wisconsin, the Wisconsin law firm of Hooper Law Office assists clients with Wisconsin estate planning, asset protection, trusts, wills, estates, probate administration, trust settlement, probates, medical assistance planning, Medicaid planning and eligibility, nursing home planning, long-term care planning, elder law, business exit planning, business succession planning, special needs planning, retirement planning, charitable giving, family limited partnerships, wealth transfer planning, and real estate and transactional law. With over fifteen years of experience practicing law, Hooper Law Office is an experienced estate planning law firm with attorney Foss Hooper. They are trust attorneys, probate attorneys, asset protection attorneys, Medicaid attorneys, elder law attorneys, corporate attorneys, and real estate attorneys serving Outagamie County, Brown County, Cities served include include: Appleton, Green Bay, Clintonville, Oshkosh, Fond du Lac, Shiocton, New London, Freedom, Sherwood, Seymour, De Pere, Kaukauna, Kimberly, Shawano, Pulaski, Oconto, Fremont, Stevens Point, Wautoma, Winneconne, Omro, Berlin, Ripon, Green Lake, Waupun, Beaver Dam, Lomira, Mayville, West Bend, Oostburg, Sheboygan, Plymouth, Manitowoc, Two Rivers, Kewaunee, Algoma, and Sturgeon Bay.
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