20101104_UnderstandingVAPension

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Attorney name and title


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Wartime veterans

Surviving spousesof wartime veterans

The key is to qualify!


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Veteransuffereda service-related injury

Veterans injury is rated as a percentage of loss10%, 20%, 100%


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Disability compensation isnot limited by Veterans

income or assets

Surviving Spouse/Dependents may be

eligible for Dependencyand IndemnityCompensation (DIC)

V.A. Disability Compensation(cont.)


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VA Pension

No service-connected injury

Available to veterans and survivingspouses

Money is paid directly to the veteran orsurviving spouse


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Wartime veterans with

spouses may be

eligible for up to

$1,949/month


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A surviving

spouse may be

eligible for up to

$1,056/month.


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REQUIREMENTS FOR EXTRA MONEYREQUIREMENTS FOR EXTRA MONEY

Wartime Service (or widow of wartime Veteran)

Medical expenses

Based on household income and assets Assistance needed

There are three classifications for Pension Basic

Housebound Aid and Attendance


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Served at least 90 days (if before 1980) of

actual duty

Served at least one day during a war period Other than dishonorable discharge


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Age And Medical Criteria

Over age 65 unless 100%disabled

After medical expenses must

have less income thanpension benefit

Amount of pension willdepend on medical needs ofveteran or widow


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Inability to dress/undress

Inability to keeponeself presentable

Inability to bathe oneself

Inability to take medications

Inability to feed oneself


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Cannot leave housewithout assistance

Does not mean theycannot take care ofself within the house

Cannot drive


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Income for Veteran Administration Purposes (IVAP)

Determining Eligibility

Gross Household IncomeOut of Pocket Medical

Income for VApurposes (IVAP)


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MAPR is the maximum available pensiondepending on the need of the claimant


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The VA will not pay anythingif:

IVAP is greater than the

MAPR.


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MAPR Maximum MonthlyPension

Basic Pension $11,820 $985

with dependent $15,492 $1,291

Housebound $14,448 $1,204


Aid and Attendance $19,728 $1,644



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MAPR Maximum MonthlyPension

Basic Pension $7,932 $661

Housebound $9,696 $808

Aid and Attendance $12,672 $1,056


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MAPR is $23,388

If IVAP is zero or less

Veteran qualifies for entire amount

Couples Gross Income: $45,000

UME (Unreimbursed Medical Expenses): -49,000

IVAP: ($ 4,000)MAPR: -23,388

Maximum Pension Allowed: $ 23,388


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Couples Gross Income: $45,000UME: -10,000

IVAP: $35,000MAPR: -23,388

Maximum Pension Allowed: $ 3,612

If IVAP is greater than MAPR

Benefit to Veteran will bereduced


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FREE VA medical (no co-pay) and FREEprescription through VA pharmacies for

formulary drugs


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The VA doesnt provide a limit,and they dont allow much!

This is where the greatest need

for planning exists.


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Residence

Burial Policies/plans

Small life insurance policies

Personal property


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There is no exact limit,

but we will do the analysisfor you!

However, instead of worrying abouthow much we can leave them we needto be planning on how little we canleave them.

Also, the transfer of assets mustconsider the effect on Medicaideligibility.


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1) Negative tax consequences.

2) The person you give money to could pass away or

get sued.

3)You may give away more than you needed to.

There are other options available that

provide the same result, but have fewer (or no)

consequences.


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Discuss long term careplanning options

Review the healthcare options

Determine the income taxconsequences of your options

Develop the appropriate plan

for your situation Assist you with the application


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Add information on how clients should contact you.


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Your information here

Thank You!

Date post:	03-Apr-2018
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20101104_UnderstandingVAPension

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