Veterans Financial FAQ

• 1. How much does it cost to work with a Veterans Financial, Inc.?

  Nothing. Veterans Financial offers a FREE consultation to all families, elder care professionals, or senior living communities.  Veterans Financial will provide all necessary forms for applying to the VA at no cost. Some families utilize other services offer by or referred by Veterans Financial. For example, some families with more complex situations may be referred to an Elder Care Attorney with specific VA expertise. In those cases, fees charged by the attorney are between the family and the Attorney. Veterans Financial is not paid any referral fees by the attorney.

• 2. How do I know if I am eligible for the Aid and Attendance benefit?

  When you call our toll-free number, a live member of our experienced staff will educate you about the eligibility criteria used by the Department of Veterans Affairs (VA).  If you meet the basic criteria, we will encourage you to apply for benefits and provide you with all of the necessary forms and instructions.  Unfortunately, until the VA makes an official determination on the application, no one can state with absolute certainty that you are eligible.

• 3. Is Veterans Financial, Inc. part of the Department of Veterans Affairs (VA) or any other government agency?

  No.  Veterans Financial, Inc. is a private financial services company. We specialize in helping Veteran families plan for the expenses associated with Assisted Living, Senior Living, Home Care, Nursing Homes, or Adult Day Care.  This often includes the VA’s Aid and Attendance Benefit and Medicaid Planning.

• 4. If I don’t use the care provider that referred me to Veterans Financial, Inc., can I still use your services?

  Yes.  Veterans Financial has worked with more than 5,000 Senior and Assisted Living Communities, Nursing Homes, Home Care Agencies, and senior industry referral services.  Regardless of who refers you to Veterans Financial, we will assist you.

• 5. How does Veterans Financial, Inc. get paid?

  Veterans Financial is a private financial services company. Some Veterans or surviving spouses of Veterans that want to apply for the Aid and Attendance benefit and or plan for Medicaid are ineligible due to their assets.  These families may become eligible for the benefit, but to do so they must enact appropriate financial planning.  If we help these families, Veterans Financial is paid by the institutions where the Veteran or surviving spouse deposits their assets.

  In other cases, family members come to Veterans Financial for long term care insurance to ensure they can afford care when it becomes necessary.   Veterans Financial is paid by the insurance company for establishing the policy.  Everyone who calls Veterans Financial receives first-class support regardless of whether they require financial planning or not.

• 6. Does Veterans Financial, Inc. speak in person or present webinars about Aid and Attendance benefits?

  Yes.  Veterans Financial gives educational presentations for public and professional groups.  Veterans Financial’s team presents hundreds of in person and virtual educational events every year.  The most requested topic is the Veterans Administration Aid and Attendance Pension Benefit.  We often speak at Assisted Living Communities, association meetings, and events geared toward seniors, senior living, and Veterans. We do not charge for these speaking engagements or for our marketing support.

Veterans’ Benefits FAQ

• Q: How much money can I have and still be eligible for VA benefits?

  A: The VA set $130,773 as an asset limit for 2021. Those with less than $130,773 can immediately apply. Those with more than $130,773 will need to work with a VA Accredited Elder Care Attorney and/or Veterans Financial, Inc. to become eligible either immediately or in less time than spending down to $130,773. The planning Veterans Financial and any Attorneys we recommend understand the unique needs of planning for both Veterans Benefits and Medicaid. These benefits have different eligibility rules and working with an attorney who does not understand both will result in denial of benefits from one of the two programs.

• Q: What if I can’t afford care without being awarded Aid and Attendance benefits, what can I do?

  A: If you intend to start receiving care within a short period of time after submitting your application, the care provider you intend to use must provide documentation stating what your expenses will be. You should then submit your application to the VA who will either deny the claim because of excessive income or award the benefit, however, the VA will not pay out anything until medical expenses are incurred.  An explanatory cover letter to the VA explaining your circumstances mailed along with your application may help your case. Veterans Financial does have a resource we can refer you to that offers loans for Assisted Living costs.

• Q: How long does it take to be awarded benefits?

  A: Typically benefits are awarded is three to six months, however some applications are approved much faster and others take longer depending on who is reviewing it.  Once benefits are awarded, the VA pays retroactively back to the first of the month following the VA’s receipt of the application.

• Q: Am I eligible for Aid and Attendance benefits if I am already receiving Compensation or the Dependency and Indemnity Compensation (DIC) benefit?

  A: Compensation recipients may apply for Pension, but you will only receive the greater of the two benefits.  Typically, if a Veteran is rated between 10-80% disabled, it makes financial sense to apply for Pension with Aid and Attendance.  If you are receiving more than that, you are most likely receiving all that is available, however, there is no harm in applying.  If you are receiving DIC benefits, you can only receive an additional $336 per month when approved for Aid & Attendance.

• Q: What if I cannot locate discharge papers?

  A: In some cases, the VA requests certified copies of discharge papers (DD-214).  Therefore, we encourage everyone to request a copy of their discharge through the National Archives.  This is a free service and takes anywhere from two weeks to several months.  You can request military records through the National Archives.

• Q: What if I cannot locate marriage or death certificates?

  A: These documents can typically be found at the courthouse in the county of marriage or death.  Many states and counties offer these documents online.  A simple internet search may provide you with a resource.

• Q: What if the Veteran and Spouse divorced?

  A: Although we encourage spouses where the Veteran is deceased and neither person remarried to apply, our experience is that the VA will deny benefits to the spouse of a veteran if they divorced.

• Q: What if the Surviving Spouse remarries?

  A1: If the Surviving Spouse is still married, then he/she can only apply if the current spouse is a Veteran.
  A2: If the Surviving Spouse remarried a non-veteran, but is no longer married, we encourage you to apply, however,  our experience shows the VA will most likely deny benefits.