Do you know a friend or family member in an assisted-living facility or who is receiving home-based care? Veterans' benefits (specifically, Aid & Attendance) can assist in paying for these services. Currently, it is one of the most under-utilized payment options for families.
Many Veterans' benefits require assets to be below a certain limit. However, unlike Medicaid planning, planning for these benefits can currently be done without fear of a “look-back” rule regarding divesting yourself of assets. In other words, couples can currently transfer assets to children with the goal of qualifying for VA benefits, and those transfers will not be penalized. These benefits can amount to several thousand dollars each month and help pay for needed care. Couples with questions should consult a knowledgeable elder law attorney or the Crawford County Office of Veterans Affairs. You are entitled to certain benefits and taking advantage of them is important.