Veterans and their families face a distinctive set of legal and financial planning challenges that reflect the unique circumstances of military service — from navigating the VA benefits system to planning for the long-term care needs of aging veterans and the estate planning considerations that apply specifically to military families. Staying current with changes to veterans benefits programs, regulations, and planning opportunities is important for veterans and those who advise them.
Mandelbaum Barrett PC’s Summer 2019 VetNews covers legal and benefits topics relevant to veterans and their families in New Jersey. The firm’s attorneys advise veterans, active duty service members, and their families on a range of legal matters, including VA benefits planning, estate planning with veterans benefits considerations, and other legal needs specific to the military community. The firm’s trusts and estates and elder law practices include veterans benefits planning as part of their comprehensive services for New Jersey clients.
VA Aid and Attendance Benefits for Veterans Needing Long-Term Care
The Department of Veterans Affairs offers benefits for veterans who need long-term care, including the Aid and Attendance benefit available to veterans and surviving spouses who require assistance with daily living activities. The Aid and Attendance benefit provides monthly payments that can help offset the cost of in-home care, assisted living, or nursing home care. Qualifying for Aid and Attendance requires meeting both medical and financial eligibility criteria, and the rules governing this benefit have undergone significant regulatory changes in recent years that affect how asset transfers are evaluated in determining eligibility.
In 2018, the VA implemented rules affecting eligibility for the Aid and Attendance pension benefit, including a look-back period for asset transfers. Understanding how these rules apply and how they interact with Medicaid planning — which may also be relevant for veterans needing skilled nursing facility care — requires knowledge of both VA and Medicaid program rules, and careful coordination between the two planning frameworks.
Estate Planning Considerations for Veterans
Veterans have estate planning needs that overlap with those of the general population but include certain veterans-specific considerations. VA benefits received during the veteran’s lifetime do not pass through the estate, but life insurance through the Service Members’ Group Life Insurance or Veterans’ Group Life Insurance programs, survivor benefit plan payments, and VA disability compensation can be significant components of a military family’s financial picture. Ensuring that beneficiary designations are current and that estate planning documents properly account for these assets and benefits is an important part of comprehensive planning for veterans and their families.
According to the U.S. Department of Veterans Affairs, eligible veterans and surviving spouses may qualify for enhanced pension with Aid and Attendance or Housebound benefits based on their need for personal care services — a benefit that can provide meaningful financial support for veterans who need long-term care assistance at home or in a care facility.
Survivor Benefits for Military Families
Surviving spouses of veterans may be eligible for dependency and indemnity compensation, survivor benefit plan payments, and other programs that provide ongoing financial support. Understanding the eligibility rules for these programs, how they interact with other income and benefits, and how to ensure a surviving spouse can access available benefits is an important aspect of financial and estate planning for military families. Legal guidance from attorneys familiar with VA programs can help surviving spouses navigate the claims process and understand their full range of entitlements.
Contact Mandelbaum Barrett PC for Veterans Law Guidance
If you have questions about VA benefits, veterans estate planning, long-term care planning for veterans, or other legal matters affecting military families in New Jersey, the elder law and estate planning team at Mandelbaum Barrett PC can help.
Reach out through our contact page to speak with our team. We are here to serve veterans and military families with the dedicated guidance and legal support they deserve.