Veterans and Survivors Pension
For veterans going through the aging process, receiving your pension can be a cause of concern. Working with the elder law attorneys at Cordell Planning Partners will benefit you and give you the peace of mind you are looking for as you plan for your future.
You may be eligible for VA pension if you have completed 90 days of active duty service with at least one day during a wartime period. If you entered active duty after September 7, 1980, generally you must have served at least 24 months or the full period, for which you were called or ordered to active duty with at least one day during a wartime period.
You also can be an eligible veteran if you are age 65 and older, permanently disabled, a patient in a nursing home receiving skilled nursing care, a recipient of Social Security disability insurance, or a recipient of supplemental security income.
In order to qualify for the veterans pension benefit, your yearly family income must be less than the amount set by Congress. Additionally, veterans or surviving spouses who are eligible for VA pension while housebound or requiring the aid and attendance of another person may be eligible for an additional monetary payment.
This pension is calculated to be the difference between your countable family income and the annual pension limit set by Congress.
In order to apply, you can visit their website, or download VA Form 21P-527EZ “Application for Pension,” mailing it to the Pension Management Center (PMC) that serves your state.
Those who are spouses and children of a deceased veteran may be entitled to their own form of compensation. Survivors pension is a tax-free monetary benefit payable to a low-income, unremarried, surviving spouse, and/or unmarried child or children of a deceased veteran with wartime service.
If you fit the description and your veteran began their service on or before September 7, 1980, serving at least 90 days of active military service with at least one day during a wartime period, you are eligible.
Other forms of eligibility include your veteran entering active duty after September 7, 1980 and having served 24 months or the full period, for which called or ordered to active duty with at least one day during a wartime period or your veteran being discharged from service under other than dishonorable conditions.
Your yearly family income must be less than the amount set by Congress to qualify, and while an unmarried spouse is eligible to receive survivors pension at any age, a child of a deceased wartime veteran must be younger than the age of 18, younger than the age of 23 if attending a VA-approved school, or permanently incapable of self-support due to a disability before the age of 18.
Survivors pension is calculated by the difference between your countable income, as designated by VA, and the annual pension limit set by Congress, generally paid in 12 equal monthly payments.
In order to apply, download and complete VA Form 21P-534EZ “Application for DIC, Death Pension, and/or Accrued Benefits” and mail it to the Pension Management Center (PMC) that serves your state.
Contact Cordell Planning Partners for a complimentary estate planning analysis with one of our attorneys, or give us a call at 866-3-ELDERLAW.