I recently wrote about upcoming changes to the laws regarding the Aid and Attendance benefits available for wartime veterans in Michigan. Effectively, the VA is concerned about protecting seniors that are also veterans from the perils of unscrupulous “financial planners.” Although effective financial planning is a part of long term care planning, there are others out there that prey on opportunity and seniors when it comes to long term care planning.
Prior to engaging in any “long term care” plan, involving VA benefits, make sure than you are working under the direction of an accredited attorney even before you engage a financial planner. This is important to avoid: financial planning pitfalls; unforeseen Medicaid consequences; and, disqualification from VA benefits resulting from poor planning.
The Senate Committee on Veteran’s Affairs conducted by the Senate and VA recently made several recommendations. Present at the hearings were representatives from the Natioanl Academy of Elder LAw Attorneys (NAELA). Attached, follows a link to the summary recommended by NAELA to the subcommittee. “Health and Benefits Legislation.”
The NAELA Public Policy Committee will discuss theses issues at its upcoming meeting.