Q: Father is 84, has monetary assets. I need to know what type of trust to setup. He has Aid & Attendance VA benefits. A trust needs to be setup so he qualifies. He is a WWII veteran. I have all of the paperwork and just need to know what type of Trust to setup so he is not disqualified due to his assets. He has a home and car. I take care of meds, running to store, prepare meals for him and pay his bills since I am on his account (savings and checking). I am his POA as well. I need to do this as soon as I can since he will be moving into my home in about 4 months once the construction is done.
A: Aid and Attendance benefits from the VA can be just as complicated as Medicaid planning. Do not do this on your own without an experienced elder law attorney who knows Medicaid and VA rules. Some of the things that work for A & A can adversely impact the senior citizen down the road should they need to transition to a nursing home and need Medicaid funding.