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Consider Veterans’ Benefits in Financial Planning


Advisors: Don’t Ignore Veterans Benefits

This is the title of an article which was printed in Financial Planning magazine.  It is a good reminder to both financial services professionals and all those who have served (or are serving) in the U.S. military, to think about how VA benefits fit into individual financial analysis and planning.

Things change.  Benefits change.  Military service that was provided years ago may result in a new or unexpected benefit.  Personally, I have observed how  a widow of a service member benefited through the availability of assisted living through a VA program.  There are lots of rules for each benefit provided, no big surprise there.  But the surprise is that often family members such as spouses, children, and grandchildren  aren’t aware of any of the possible options available because they didn’t serve in the military and don’t have an understanding of the VA, or they just assume that since the military member wasn’t retired or disabled, there are no benefits available. 

Financial Advisors who ask about VA benefits as a routine part of the analysis process can encourage the client to learn more from the VA.  Yes, it can be a daunting process with all the paperwork and questions, but it can also be a very rewarding one if the benefit meets the need.  Adult children can be very helpful in navigating a system which may seem overwhelming to someone who is ill or elderly.

A little research and information are all that are needed to consider VA benefits in the financial planning process. 

Until next time.

Debra Hadsall