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Veteran Services: Finance Questions

Finances

You're working, and you've got a family that depends on you - both now and down the road. Where do you invest your money? Do you borrow against the equity in your house? Through a preferred provider relationship with USAA, The American Legion can provide expert financial advice to just about any question.

Questions & Answers

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Financial Questions & Answers

Question:

My dad is a World War II veteran in an adult care home with Alzheimer’s. I would like to apply for his health-care benefit but was told selling his house would leave him with too much money to qualify. Is there a way to do both? – James

Answer:

We’re sorry to hear about your dad. We’re not 100 percent sure what type of benefit you’re referring to? It sounds like Medicaid, which is, of course, a needs-based program. However, this is definitely a difficult situation and an appropriate time to seek the counsel of those in the know. To that end, consider contacting a Department of Veterans Affairs Vet Center at 877-927-8387 to see what options might be available given your dad’s service to our country. An attorney that specializes in “elder law” could be helpful with respect to the requirements to qualify for Medicaid. Or, you could use the proceeds from the home sale to finance care for your pop as private care typically beats Medicaid nursing home care. It’s a tough situation, so ensure you’re getting the information you need to make sound decisions.