As we age, many of us neglect to take into account our own long term care needs when meeting with our estate planning attorney and planning our estate. In fact, many existing estate plans do not account for long term care. Often, the focus is solely on the creation of a Will or Trust to pass our inheritance to our beneficiaries. A well drafted estate plan will take into account that we may require long term care services as we become dependent upon others to assist and provide care for us.
Without a well drafted long term care plan in place, an estate may lose most of its value and there may be little if any assets to pass to our loved ones through our will or trust. In addition to the financial strain of not having a long term care plan, our loved ones who are providing care and assistance for us can face some really difficult challenges.
Our law firm is committed to helping seniors and their families and has experience developing long term care plans, helping you successfully save your estate from being spent down in order to pay for any nursing home costs.
VA Aid & Attendance
The Veterans Administration has funds that are available to help pay for long-term care, yet many families are not even aware that these benefits exist. Shima Stewart is ready to assist our veterans and their surviving spouses apply for and qualify for Veteran’s Benefits through the Veterans Administration. VA Pension Benefits provide a monthly cash benefit to wartime veterans or the surviving spouse of a wartime veteran with non-service-connected disabilities needing long term care.
There are certain financial and medical criteria that must be met in order to qualify for the VA Pension benefits. In addition, planning for eligibility for VA Pension benefits is different from the planning required for Medicaid eligibility. Oftentimes, veterans will need to apply for and qualify for both programs. Because of the competing qualification requirements, it is important to work with a law firm that understands both programs and can prepare a long term care plan that includes both VA Pension benefits and future Medicaid eligibility.
Time is critical for veterans and their surviving spouses. Contact Shimoda, Stewart & Storey, LLP. today to learn how you can become eligible for this valuable benefit.