Veterans may fall victim to con artists or bad financial advice
Whenever people become vulnerable, they can fall victim to con artists looking to make a few quick bucks. One way con men prey on elderly, disabled, poor veterans is to target their benefits and pension that they may be entitled through the Department of Veterans Administration (VA).
VA’s best kept secret
First, it’s important to understand that millions of dollars of veterans’ benefits go unclaimed because veterans and their family members don’t know they exist. For example, some call the VA’s pension with Aid and Attendance benefit the VA’s best kept secret.
The lack of knowledge, misunderstanding and regulations surrounding the Aid and Attendance benefit is what attracts con artists. Aid and Attendance is intended for disabled, wartime veterans and their surviving spouses with financial need pay for assistance with daily living. Yet, fraudulent scammers claim they can pull strings to have well-off veterans approved by artificially impoverishing them.
Bad financial advice can limit options for veterans
There are also commissioned financial salespeople that advise locking up the elder’s assets in a trust or annuity; both actions typically generate large fees for the person selling the product. The danger is when any transfer of assets for estate planning purposes is not handled properly, seniors can lose control over their personal finances and be disqualified from other government need-based benefits such as Medicaid.
Reputable resources for veterans
The good news is that there are reliable, reputable resources to help disabled veterans find out if they qualify for VA benefits. With millions of dollars in VA benefits going unclaimed and the growing elderly population, the need for this service continually grows. Imagine if you need help at home with grooming, bathing, dressing walking, meal preparation and transportation, you probably need help with government paperwork.
My company began 13 years ago when our family needed help understanding VA benefits. In 2003, my mother passed away from cancer. Late in her illness, I became aware of the VA’s Aid and Attendance benefit. My mother would have qualified but sadly by the time I applied for the pension on her behalf, it was too late. It was then that I began my company to serve the needs of veterans and their surviving spouses.
Veterans Home Care can assist with this process with no out-of-pocket cost to the veteran or spouse. If it is determined that an individual will qualify for the VetAssist Program, Veterans Home Care will help him through the application process, arrange and manage home care and help the veteran or spouse remain in VA compliance. Veterans Home Care will even provide an interest-free loan so home care can begin even before the application is approved by the VA.
If you suspect that someone is taking advantage of a veteran or trying to gain access to their benefits for fraudulent purposes, report them to the VA and local police.
For more information and to learn about Veterans Home Care, contact Veteran’s Home Care at (888) 314-6075.