Scam of the day – January 10, 2013 – Veterans Aid and Attendance Scam

The Veterans Aid and Attendance program is a legitimate program operated by the United States Department of Veterans Affairs and provides benefits for wartime veterans and their spouses.  There are a number of important conditions to meet, however, in order to be eligible for these benefits, not the least of which is that the qualifying veteran generally is not able to qualify for the program if he or she has assets in excess of $80,000.  Presently there are a number of scammers who are posing as legitimate financial advisers and specialists in this program who are taking advantage of veterans and their families.  Often, they give the impression that they are connected to the federal government.  They are not accredited with the Department of Veterans Affairs.  These advisers often tout investments such as deferred annuities that provide large commission payments to the advisers, but are, most often, inappropriate for aging veterans.  In addition, following the advice of these “helpful” advisers could result in the veteran being disqualified for Medicaid benefits for long term care.

TIPS

Veterans benefits are tricky and complicated.  You should only deal with claims agents and attorneys who have been accredited by the U.S. Department of Veterans Affairs and do not accept the representations of anyone who claims to have this accreditation.  Confirm this with the Department of Veterans Affairs.