Hello again!

You recently learned about who can help you fill out your VA benefit forms. But all is not sunny down each of these roads! Here’s a word of warning about what to look for when working with various organizations or professionals.

The sad fact is, since it’s illegal to charge a veteran a fee for filing a claim for them, there are few attorneys who know anything about these benefits. Veterans Service Organizations (VSOs) do truly want to help, but they are often hard-pressed to have sufficient resources to aid multiple generations of veterans, so it can be difficult for a veteran or his/her surviving spouse to get all the help they need to file a claim. There is only so much they can do.

The only other common source of information regarding this benefit generally comes from annuity salespeople who often offer to consult with veterans and their families for free. This “free offer” is based on the strategy of counseling the veteran to meet the asset and income limitations of the benefit by buying an annuity and giving away their assets to their children. The offer is that the annuity sales organization will assist the veteran in filing for the VA benefit claim. They also promise to provide any necessary estate planning work at no charge. In reality, the annuity salesperson is being compensated by the annuity company for selling a financial product to the veteran.

While an annuity may be an excellent financial decision for your loved one, it may also be a poor one, depending on your family’s facts and circumstances. All I’m saying is this: You should seek independent advice before making a decision to purchase an annuity and/or transfer assets! You should plan your estate using the resources that are right for you, instead of a one-size-fits-all annuity… because trust me, one size does NOT fit all!

And as we’ve talked about before, many attorneys (even elder law attorneys!) do not know about the VA’s benefits or how to get them. In addition, many attorneys may label themselves as elder law attorneys because they can prepare simple things such as wills – but unless they are working with seniors on both Medicaid and VA benefits every day, they are most likely not versed in the complicated and ever-changing maze of laws that surround the benefits that you or your loved one may need – and often my clients need services much sooner than they think! This is dangerous territory. You need a trustworthy guide who has traveled this path before, and travels it on a regular basis!

To learn more about annuities and other financial products that may be great – or disastrous – for your financial well-being, go to http://alzheimersresourcekit.com/hammond/pdf/alzheimers_legal_survival_guide.pdf and take a look at my Alzheimer’s Legal Action Survival Guide. Or, if you’re tired of reading about laws, rules and regulations, just give my office a call at (913) 338-5713 – we’ll be able to tell you if what you’ve got suits you well or if you need to take steps now to protect yourself.

Hope to hear from you soon!