I met with a Mesa, Arizona client recently whose father served our country during World War II. The client explained to me that his father and mother had worked their whole lives and had been very frugal with their money with the hopes that one day they could leave behind a legacy for their kids and grandkids. His father is 90 years old now and living in a care facility. They are paying about $6500 a month for the cost of care and are running out of his assets very quickly. The thought of seeing his entire estate depleted on long term care is heartbreaking to his father.
They had met with an attorney that had convinced them to gift dad’s home to his two kids, so that dad could qualify for public benefits. The attorney had also created an irrevocable trust for dad and he was the beneficiary of all of the income from the trust during his lifetime.
The sad part is that had the client come in to see us before he met with this other attorney we could have preserved a lot of dad’s estate and qualified him for public benefits such as VA Aid and Attendance benefits and Medicaid benefits. Unfortunately, we see this all too often, where the damage has already been done and there is nothing left for us to do but offer our condolences.
If you are a war time veteran or you know of someone that is, and they have a long term care issue it is imperative that you get good legal counsel as to what your rights are and how you can qualify for public benefits. Sometimes when you plan one way to receive certain public benefits you can severely impede your ability to receive other public benefits that can amount to significant benefit dollars.
In order to assist veterans with receiving veterans pension benefits you have to be accredited with the Department of Veterans Affairs. The law firm of Morris Hall has attorneys that are accredited with the Department of Veterans Affairs and have assisted many clients with receiving public benefits.
Call 888.222.1328 today to schedule a free consultation and see how Morris Hall can assist you!
Contributed by MH VA Accredited Estate Planning Attorney David T. Eastman
This blog should be used for informational purposes only. It does not create an attorney-client relationship with any reader and should not be construed as legal advice. If you need legal advice, please contact an attorney in your community who can assess the specifics of your situation.
- How Much Power Is in a Power of Attorney? - May 19, 2023
- What Are Some Benefits of Lifetime Giving? - May 18, 2023
- Top 5 Things to Discuss with Your Estate Planning Attorney - May 17, 2023
Leave a Reply