The Veterans Administration has two programs that provide monthly tax free cash to veterans. Each of these programs have their own qualification requirements.
VA Pension: This benefit, also known as VA pension with aid and attendance, provides monthly tax free cash to veterans and their widows. This benefit is not dependent on the veteran having a service connected injury, but rather requires that the veteran, or widow, be over 65 years of age or disabled and have a need for long term care. There are asset and income requirements that must be met for someone to receive the benefit. An experienced elder law attorney can assist in determining whether a veteran or widow can qualify for VA pension and if so advise on planning needed for qualification.
VA Compensation: This program provides monthly tax free cash to veterans who are disabled due to a service connected incident. This requires that the veteran prove both that they are disabled and that the disability was due to an occurrence during their service. The veteran will receive a disability rating that will determine the monthly amount that will be provided to the veteran. VA compensation benefits are not dependent on the income or assets of the veteran.
If a veteran qualifies for both VA pension and VA compensation, they will receive the higher of the two benefits, but not both.