Veterans Benefits Planning with Unmatched Flexibility
One of the largest obstacles in Veterans Benefits planning can be taking future Medicaid benefits into consideration - planning for the unknown. When using annuities, many elder law attorneys use a Medicaid Compliant Annuity simply to ensure that the product will not impede a future Medicaid application. However, this is not a requirement in Veterans Benefits planning, and can unnecessarily limit the insured's financial flexibility and planning options.
That's why we couldn't be more excited to unveil a revolutionary new product, which I expect to change Veterans Benefits planning. The new product is a traditional single premium immediate annuity - revocable and assignable, but still offering zero cash value. By remaining revocable and assignable it provides flexibility for the unknown, and leaves the door open to multiple planning options.
This is the revolutionary part. At any time the owner may elect to add a "restrictions endorsement," resulting in the state Medicaid agency being added as a beneficiary, and the annuity being made irrevocable and non-assignable. These changes result in an annuity compliant with the Deficit Reduction Act of 2005, more commonly referred to as a Medicaid Compliant Annuity. Or, if it was in the insured's interest to get rid of the annuity in exchange for a lump sum of cash, he or she can simply sell the annuity in light of its assignability.
This case study is provided as an example to show you the planning options provided by the VA Annuity.
To get started today, simply complete a Veterans Aid & Attendance Benefits Planning Worksheet and return it to Krause Financial Services, or make an online quote request here,
