Veterans’ Benefits – Too Often Under-Utilized and Incompletely Understood

| Dec 30, 2020 | veterans estate planning

Some had been drafted; others had volunteered. Today, more than six million Vietnam War veterans are still alive, ranging in age from 65 to 80. When, just two years ago, the Congressional Budget Office studied the financial situation of these veterans, it was found that their income was roughly equivalent to the average income of non-veterans. Now, almost all these veterans are retired.

Assistance to veterans is an important part of our law practice at Rebecca W. Geyer & Associates. We often provide assistance to veterans and their surviving spouses by helping them obtain VA benefits through the Veteran’s Benefits Administration.

In whatever period – and in whatever arena – a veteran has served, aging.com explains, there are benefits available through the government, including:

  •  education programs
  • job search and training resources
  • home loans

“You should be aware of a host of other resources waiting to assist you as you leave the working world,” aging.com adds, including:

Supplemental pension income for wartime veterans
Eligible recipients are either over 65 or receiving Supplemental Security Income of Social Security Disability Insurance, be totally and permanently disabled or receiving skilled care in a nursing home.

Survivors’ pension
This tax-free benefit is for low-income widows who have not remarried as well as for unmarried children of a deceased war veteran.

Aid and Attendance
This compensation is for veterans who are bedridden, those with very low visual acuity, or who required assistance for daily living activities.

Group life insurance and Family Servicemembers’ group life insurance
Lifetime renewable term life insurance coverage covers the serviceman, the spouse, and dependent children. There is also group traumatic injury protection and mortgage life insurance.

When it comes to home ownership for veterans, the VA’s own website explains the mission: to help veterans and eligible surviving spouses become homeowners. “We provide a home loan guaranty benefit and other housing-related programs to help you buy, build, repair, retain, or adapt a home for your own personal occupancy.”

At Geyer Law, knowing that Veteran’s Benefits are among the most misunderstood and underutilized resources, our focus has been on helping veterans and their family members qualify for VA benefits.

– by Rebecca W. Geyer