Veterans—You May Be Sitting On A
Gold Mine...And Maybe, A Mine Field
Like all seniors, Amer-
ican military veterans
entering their senior years
run an increased risk of
disability. But unlike their
non-military brethren, vet-
erans have a secret weapon:
Veterans benefits.
Calling Veterans bene-
fits a “secret” weapon is
not meant to be facetious. Joseph S. Karp,
It’s the truth, because the C.E.L.A.
majority of elderly and disabled
veterans I encounter are completely
unaware that they may have benefits
coming to them. Most are under the
impression that their disability had to
have been sustained during military
service. Not true! Veterans aid and
attendance benefits may be available
for in-home care, for assisted living
care, or for nursing home care even if
the disability is unrelated to military
service. Not only that, but the veter-
an’s widow may also be eligible for
# #
benefits.
Listen to Joe Karp with
Anita Finley on Saturday,
July 11 from 7:30-8:00 AM
on WSBR 740AM and on the
# #
Internet at www.wsbrradio.com.
There is of course a means test. An
application must be filed, at which
point the Veterans Administration
analyzes both income and unreim-
bursed medical expenses. Transfers
of assets, however, are not even part
of the picture. The Veterans Admin-
istration has no “lookback” period;
all that interests them is your finan-
cial status at the point you apply for
benefits. And this is where we segue
from gold mine to mine field.
Veterans applying for home care
are often on a journey from home care
to ultimately, assisted living
or long-term nursing care.
That ’s ju st th e w a y l i f e
works. If you apply for
Veterans benefits today, you
may need to apply for
Medicaid benefits a few
years from now. And unlike
the Veterans Administration,
Medicaid most definitely
cares about transfers. The
current lookback period is
from three to five years preceding the
date of application, depending on the
date of the transfer. So, those trans-
fers you made knowing they would
not impact on your eligibility for
Veterans benefits may end up ren-
dering you ineligible for Medicaid for
a substantial period, costing you and
your family dearly.
If you’re disabled or over sixty five,
and a veteran, you should consider
Veterans benefits as just one part of
the planning puzzle. To conserve your
assets and to make use of whatever
public benefits are available to you in
the most advantageous way, consult
with a Certified Elder Law Attorney
knowledgeable about both Veterans
and Medicaid benefits.
I am happy to say that at The Karp
Law Firm, all of our attorneys are
accredited by the Veterans Adminis-
tration to advise about benefits, to
make sure your gold mine doesn’t turn
into a mine field!
Joseph S. Karp is a nationally certified
and Florida Bar-certified elder law attorney
(C.E.L.A.) specializing in the practice of Trusts,
Estates and Elder Law. His offices are locat-
ed at 2500 Quantum Lakes Drive, Boynton
Beach; 2875 PGA Blvd., Palm Beach Gar-
dens; and 1100 SW St. Lucie W. Blvd., Port
St. Lucie. Call him at 561-752-4550 (Boyn-
ton); 561-625-1100 (Palm Beach Gardens);
or 772-343-8411 (Port St. Lucie). Toll-free
from anywhere: 800-893-9911. E-mail: KLF@
Karplaw.com or website www.karplaw.com