Yes. You can receive a monthly pension if you are a wartime veteran with limited income, and you are permanently and totally disabled or at least 65 years old. A veteran is considered a wartime veteran if they served at least 90 days in the military, at least 1 day of which was during a war time. Additionally, if you were discharged from the military, the discharge must not have been dishonorable. Another requirement, with exceptions, applies to those who entered active duty after September 7, 1980, who must have served for at least 24 months or the full period for which they were called or ordered to active duty. The yearly limit over which will disqualify a veteran from eligibility for pension service is set by Congress. The current limits are as follows:
• Veteran without spouse or child = $10, 929
• Veteran with one dependent = $14, 313
• Veteran housebound without dependents = $13,356
• Veteran housebound with one dependent = $16, 740
• Veteran receiving Aid & Attendance without dependents = $18,234
• Veteran receiving Aid & Attendance with one dependent = $21, 615
• $2, 480 can be added to each category if you are an “Early War” veteran.
• $1, 866 can be added to each category for each additional dependent a veteran may have.
In addition to the limits on yearly income set above, a veteran’s net worth – meaning assets such as bank accounts, stocks, bonds, mutual funds and any property other than the veteran’s residence – can not be “excessive.” There is no stated limit on the allowable amount of net worth, however, the Department can, at its discretion determine if net worth is excessive.
This article is intended to be helpful and informative. But even common legal matters can become complex and stressful. A qualified veterans disability lawyer can address your particular legal needs, explain the law, and represent you in court. Take the first step now and contact a local veterans disability attorney to discuss your specific legal situation.
Enter your location below to get connected with a qualified Veterans Disability attorney today.