Been through this process. VA pension my net is called Aid and Attendance. There are veteran volunteers in every county to assist you with this tedious process. I would not recommend going directly through VA as process takes double the time. The volunteer advocates know tricks thru the process that get the money to your Mom much quicker. Just look up Aid and Attendance Advocate. My advocate was located in my county building.
Advocate will tell you everything you need to know. Mine offered to sit with me and assist filling out the many forms. Discharge papers and death certificate needed to begin process. My mom gets approx $1400 per month.
We had someone from VA come to the house and fill out all papers, then weeks later find out something was not done right, our person quit, just very confusing and haven't tried to find out what was wrong. Hate to say it, but other things got in the way and we all don't know what we are doing. We were told that you no longer social security (my mom is 89 and dad served in WWII and Korea) if you get this??? anybody know for sure?
I have a similar question, sorry for the tag-a-long Jimlearn. My dad was in WWII while married to my mom for more than 20 years before their divorce. Ma could not handle the PTSD and drinking any more and we were all grown up by then. Would she qualify if the time came? She is 92 and living with me for now.
Mom gets DAD'S SSI payments (which were higher than hers, so we applied after Dad passed) AND VA Aid & Attendance Survivor Benefits of $1149 per month. She had to have less than $50K in assets in order to qualify. I used a woman who works for the VA itself; she filled out all the paperwork & submitted it FOR me, all I had to do was show up with all the proper documentation. I found her name from an Elder Care Attorney, and she's been a Godsend.
Are you Canadian or American?My father gets a grant every 6 months to pay for assistance and also gets money for personal care once a year,he can hire anyone so he hired me.Both my parents had bad strokes so it is nowhere near enough to care for both but I am single and have no ties to anything and I owe them to keep them intheir home as long as possible
We went with an attny that did nothing but work for veterans. It cost us about 2000 but it was worth it for him to do everything for us. It took about 3 mos. but it's retro active and those 3 mos. will be paid. My dad is 93 and living independently but my mom is in dem/alz facility. He still gets his SS. Going on 6 years. Good Luck and God Bless. Oh, when we did it the limit on amount you could have was 25,000 I believe. We put everything in a Trust so it would be safe and I could pay bills or give him more money when he needs it.
Good for you.It is not like a big win fall either because it takes every cent,but atleast you know there is money there..I am getting to the point where I might need to put my parents in a home because within the last 3 months I've developed severe rheumatoid Arthritis.It is so bad My arms will not work for a couple hours in the morning,can't even move them and my knees and back and neck are almost that bad as well.
Applying for VA benefits for us was very easy. Moms first check arrived 3 months after I applied. Here are some things to note...the asset limit for mom is 60,000 at the time we applied, you do not lose social security , maxium benefit for spouse is 1149.00 a month. No one is allowed to charge you to help fill out application, this is against federal law. I did a step by step breakdown for anyone starting the process. If you want to read it private message me and I am more than happy to share the link with you. The forum will not allow me to share it on the threads. My best advice is once you have your forms filled out to the best of your ability take the to your local VA office and connect with a rep face to face, this way you have a personal rep you can go to with future questions. My rep responds to my emails same day and has been wonderful. If anyone has questions reach out to me I am glad to share what I know.
Want2, the questions you ask aren't simple, nor are the answers. A trust can only be drafted by a qualified estate planning or elder law attorney, and is focused on the specific needs of the individual (you or whoever you're caring for). It's prepared in conjunction with other estate planning documents, including a Pour-Over Will, and powers of attorney.
You may not need one; it isn't for everyone. Perhaps a simple Will would be more appropriate.
As to finding sources for investment, this requires more effort on your part. You'll need to list all your financial assets, and do some research on what's the best for your situation. I.e., do you need a financial product that allows you to withdraw funds regularly, or do you need something for a long term situation? Do you want growth funds or stable "widows and orphan" funds or stocks?
You could go to a financial planner, but you need to review your own financial situation first to understand what a planner might suggest, and compare that to what you need.
If, however, your question is how do you find an attorney and/or financial planner....for an attorney, research the website of your local state or county attorney bar association, look for practice groups of estate planning and/or elder law, review the websites of those firms to get an idea of their range of services within their practice areas, as well as their experience.
Contact a few, ask for their hourly or lump sum rates and what they prepare for those charges. You might want an introductory visit just to discuss what you need, and whether a trust is even appropriate for you.
As to financial planners, I would find an attorney first; they sometimes work with financial planners and can recommend one.
But the most important thing you can do first is inventory your assets so the attorney can advise whether a trust is even appropriate.
Good luck.
You may not need one; it isn't for everyone. Perhaps a simple Will would be more appropriate.
As to finding sources for investment, this requires more effort on your part. You'll need to list all your financial assets, and do some research on what's the best for your situation. I.e., do you need a financial product that allows you to withdraw funds regularly, or do you need something for a long term situation? Do you want growth funds or stable "widows and orphan" funds or stocks?
You could go to a financial planner, but you need to review your own financial situation first to understand what a planner might suggest, and compare that to what you need.
If, however, your question is how do you find an attorney and/or financial planner....for an attorney, research the website of your local state or county attorney bar association, look for practice groups of estate planning and/or elder law, review the websites of those firms to get an idea of their range of services within their practice areas, as well as their experience.
Contact a few, ask for their hourly or lump sum rates and what they prepare for those charges. You might want an introductory visit just to discuss what you need, and whether a trust is even appropriate for you.
As to financial planners, I would find an attorney first; they sometimes work with financial planners and can recommend one.
But the most important thing you can do first is inventory your assets so the attorney can advise whether a trust is even appropriate.