Your estate plan can affect eligibility for veteran benefits

On Behalf of | Nov 6, 2023 | Veterans Benefits |

Veteran benefits are well-deserved resources provided to individuals who served in the military. These include various forms of support relating to healthcare, education and finances.

Veterans must note how their estate plans may impact eligibility for these funds and services. The wrong decisions could cause undesirable results.

Impact of estate planning on veteran benefits

Many veteran benefits programs have specific asset limits. Estate planning, including the transfer of real estate, can affect your financial situation and disqualify you if it means your holdings exceed the allowable threshold.

The Aid and Attendance benefit helps injured veterans with daily activities. To qualify, applicants must meet specific criteria relating to both their medical needs as well as their financial situations.

Surviving spouses and dependents of veterans are similarly fit for certain veteran benefits. That said, estate planning choices, such as creating trusts or transferring property, can impact the eligibility of survivors. Consider how these decisions will affect what benefits are available to your loved ones and in what amounts after you are gone.

Protecting your eligibility

Avoiding negative consequences requires thoughtful estate management. Stay aware of the asset limits associated with specific programs, and ensure that your plan aligns with your fiscal needs.

Life circumstances change, and so should your estate plan. Experts recommend that you regularly review and update these documents every three to five years or after a significant life event such as marriage, divorce or birth.

A poorly designed estate plan can stop you from getting earned benefits. Make sure yours is proper so that you will receive every advantage possible, thus setting the stage for a comfortable and happy post-military life.


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