QUALIFIYING FOR AID & ATTENDANCE BENEFITS Who is eligible for the VA Aid & Attendance Pension? First let’s look at the basics. For a qualifying wartime veteran or surviving spouse to qualify for this special monthly pension, the veteran must have: · Served at least 90 days of active military service · Served at least one day during a period of war (WWII, Korea, Vietnam, Iraq and Afghanistan). The applicable periods are generally broader than expected. · Been discharged under … [Read more...] about VA Aid and Attendance: The Basics Part 2 of 3
While many people are unaware it exists, the Veterans Administration (VA) Aid & Attendance Special Pension provides monetary assistance to wartime veterans – and their surviving spouses – who need regular personal assistance. Qualifying aid or assistance can be provided at home, in an assisted living facility, or in a nursing home, and can be provided by friends, family members, or healthcare professionals. Currently, the Aid & Attendance pension can provide up to $1,703 per month to an … [Read more...] about VA Aid and Attendance: The Basics – Part 1 of 3
In California, it's not all that unusual to meet someone that appeared on television or in a magazine at some point, even if just once. Maybe, you were a model for one print campaign. Maybe, you were an actor who made one appearance on an old TV show. It happens. Do you know how much your image is worth? Do you know that the IRS can decide your image is valuable and tax the rights to it after you pass away? The estate tax places a tax on the total value of an estate after a person passes away. … [Read more...] about How Valuable is Your Image?
For many families, an estate plan based upon a revocable living trust may be all that is needed to protect their assets from death taxes. However, for folks with larger estates, it may make sense to look for ways to transfer assets in a tax-free manner. Though there is a gift tax in place there are ways to facilitate tax-free giving if you take the appropriate actions. One such strategy involves zeroing out a grantor retained annuity trust, often abbreviated as a GRAT. How does it work? After … [Read more...] about GRAT-itude for Advanced Tax-Saving Planning Option