Elder Law Articles, Uncategorized

Elder Law Update – May 2008 (Professional Care Edition)


News in our Firm On September 29, 2007 I was presented with a certificate stating that I have been certified as a graduate of the Veteran’s Benefit Institute, a new entity created for the education of the public for Veteran’s Benefits in general. As an elder law attorney, I have learned that VA benefits are available to wartime veterans who may have a substantial need for financial assistance with regard tomedical care expenses. What Kind of Benefits Exist? A veteran who is confined to his/her home, or who needs assisted living care, may qualify for what the Department of Veteran’s Affairs calls Aid & Attendance (A&A). Many Illinois veterans and veterans throughout the country are not even aware that they may be entitled to this benefit. Aid & Attendance is available for veteranswho are disabled due to the issues of aging such as Alzheimer’s, dementia, and other disabilities. For those vets and their widows who are eligible, this can provide a source of cash flow for those who are not yet ready to go into a nursing home. This A&A benefit can pay for in home care and assisted living. The benefits can be as much as$1801.00 per month for a married veteran. The widow of a veteran can receive up to $976.00 per month. For those veterans and widow(ers) who are eligible these benefits can be a blessing, as the benefits can be used for healthcare in their own home or in an assisted living community. More on Aid & Attendance Aid & Attendance is available to a veteran who is not only disabled but who has the need for assistance from another person to help protect a veteran from his or her daily life or environment. In other words, this means that a veteran needs the assistance of someone to help prepare meals, bathe, dress or otherwise take care of him/her. Someone who is confined to the house or is in an assisted living facility and over the age of 65 years is considered by the Department of Veteran’s Affairs to be in need of Aid & Attendance. Therefore it may not take much for some veterans to qualify immediately. There are some limitations with regard to income and assets, however, which are held by the VA applicant. Thus, it is important for veterans to meet with either a veteran’s organization service officer, or an elder law attorney for a consultation to determine whether or not they need any kind of planning to qualify for this wonderful benefit. An elder law attorney can provide veterans and their families with the necessary counsel to determine the appropriate steps that need to be taken if they wish to apply for this benefit. P.S. Please contact our office for more information. You can reach us at (847) 563-4887. We would be happy to assist you with all matters pertaining to your VA benefits planning, estate planning, Medicaid planning needs, and long term care and nursing home needs. P.S.S. On May 15, 2008, I conducted a workshop regarding VA benefits in Stone Park, Illinois. The response was strong. If you would like to make reservations for future VA workshops, please contact our office at (847)292-1220. Also, don’t miss our other workshop: “5 Step Plan – Legally Protect Your Assets from Nursing Home Costs” set for the following dates. Please contact our office at (847) 563-4887 to register.

Wednesday, June 11th 4:00 pm

Thursday, June 26th 7:00 pm

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Anthony B. Ferraro Attorney-CPA The Law Offices of Anthony B. Ferraro, LLC 5600 N River Road, Suite 764 Rosemont, IL 60018 PH(847)292-1220 abferrarolaw@abferrarolaw.com https://abferrarolaw.com/ Note: Pursuant to federal regulations imposed on practitioners who render tax advice (“Circular 230”), we are required to advise you that any tax advice contained herein is not intended or written to be used for the purpose of avoiding tax penalties that may be imposed by the Internal Revenue Service. This document is for discussion purposes only and is not intended to be, nor should it be, considered as legal advice. You should never attempt Medicaid planning, Estate planning, Probate, or Estate and Trust Administration without the advice of competent legal counsel.