Monthly Checks from the VA | Chicago Estate Planning & Eldercare Attorney-CPA, Anthony B. Ferraro

Did you know that you may be eligible for a monthly check from the VA?  Depending on your situation, you (or your spouse) may be able to earn as much as $1,000 or $1,500 per month for serving our country, even if you served many years or even decades ago.

Take a quick look at this 2010 VA Benefits chart. The 2014 numbers just came out and they are more favorable.  This may seem daunting, but don’t worry.  We’re here to help.

VA Benefits Chart (2010 figures)

Service Pension Rates (The veteran is alive):

Category: Service Pension

  • Maximum Annual Pension Rate: $11,830
  • Monthly Maximum Annual Pension Rate: $985
  • With one dependent:
    • Maximum Annual Pension Rate: $15,493
    • Monthly Maximum Annual Pension Rate: $1,291

 

Category: Housebound

  • Maximum Annual Pension Rate: $14,457
  • Monthly Maximum Annual Pension Rate: $1,204
  • With one dependent:
    • Maximum Annual Pension Rate: $18,120
    • Monthly Maximum Annual Pension Rate: $1,510

 

Category: Aid and Attendance

  • Maximum Annual Pension Rate: $19,736
  • Monthly Maximum Annual Pension Rate: $1,644
  • With one dependent:
    • Maximum Annual Pension Rate: $23,396
    • Monthly Maximum Annual Pension Rate: $1,949

 

For each additional dependent child:

  • Maximum Annual Pension Rate: $2,020
  • Monthly Maximum Annual Pension Rate: $168 additional

 

Death Pension Rates (The veteran is NOT alive):

 

Category: Death Pension

  • Maximum Annual Pension Rate- $7,933
  • Monthly Maximum Annual Pension Rate- $661
  • With one dependent child:
    • Maximum Annual Pension Rate- $10,385
    • Monthly Maximum Annual Pension Rate- $865

 

Category: Housebound

  • Maximum Annual Pension Rate- $9,696
  • Monthly Maximum Annual Pension Rate- $808
  • With one dependent child:
    • Maximum Annual Pension Rate: $12,144
    • Monthly Maximum Annual Pension Rate: $1,012

 

Category: Aid and Attendance

  • Maximum Annual Pension Rate: $12,681
  • Monthly Maximum Annual Pension Rate: $1,056
  • With one dependent child:
    • Maximum Annual Pension Rate: $15,128
    • Monthly Maximum Annual Pension Rate: $1,260

 

For each additional dependent child:

  • Maximum Annual Pension Rate: $2,020
  • Monthly Maximum Annual Pension Rate: $168 additional

 

I know that this is a lot to take in at once, so stay tuned for further explanation.

-Anthony B. Ferraro