What exactly is Pension, you might ask? VA Pension is a cash benefit paid to a wartime veteran or to their surviving spouses that have limited income and net worth. Ask yourself these 6 questions and if you meet all of the requirements then you are eligible. Are you a veteran who served at least 90 days? Did you serve at least 1 day in wartime? Was your discharge other than dishonorable? What is your income and net worth? How old are you? If you are under 65, are you permanently and totally disabled?
Income is deducted dollar for dollar from the maximum amount of benefits a veteran may be paid. The income from all family members is countable. This will include earnings, social security, disability, and/or retirement benefits, interest and dividends, and net income if self employed. The income limit varies between each veteran. If he/she is a veteran and is without a spouse or a child the limit is $11,830. If the veteran has one dependent the income limit will be $15,493. If housebound and without a dependant the limit is $14,457, and with one dependent the limit is $18,120. If the veteran is alone and happens to need aid and attendance the income limit will be $19,736, but if they have one dependant the limit will be $23,396.
A Veteran must fall under one of these dates of wartimes and must have served at least 1 day active duty. World War I (April 5, 1917-September 12, 1918), World War II (December 7, 1941-December 31, 1946), Korean Conflict (June 27, 1950- January 31, 1955), Vietnam Era (February 28, 1961-May 7, 1975), Persian Gulf War (August 2, 1990-Present).
The pension is calculated by adding up all of the household’s income. It can be extremely difficult to figure out and grasp the concept of pension and also can be very confusing at times. That is why so many Veterans seek the legal help of attorneys like the ones at Jan Dils Attorneys at Law. We have the people, knowledge, and resources to help you get the benefits you deserve. For a free phone consultation, give us a call at 1-877-526-3457.