Veterans – A Great Asset

While Memorial Day is an opportunity to honor and pay tribute to all men and women who died in military service to our nation, every day is an opportunity to thank the veterans we know for their service. Unfortunately, though, not everyone has the best interests of veterans in mind.

According to the Department of Veterans Affairs, roughly 43 percent of veterans are 65 or older. Some dishonest advisers – attorneys, financial planners, and insurance agent – are targeting them and their assets with claims of free help to complete the paperwork for pension claims. They try to persuade veterans over 65 to transfer their assets to a trust or to invest in insurance products so they can qualify for Aid and Attendance benefits. What they don’t reveal is that these transactions could mean that the veteran loses eligibility for Medicaid services or loses the use of their money for a long time. Adding insult to injury, the advisers are charging fees that range from hundreds to thousands of dollars for their services.

If you or a veteran you know is approached by someone offering to help move assets to qualify for pension benefits, just say “no” and report it to the Federal Trade Commission. It’s the best defense against someone who wants to poach a pension. 

Tagged with: military, pension, scam, veteran
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Comments

Thank you very much. This and other infringement I will report at appropriate time.

I have been approached by someone doing the exact thing described above using a software program called NESA. Is this a scam?

thanks for the update on these scams i will be on gaurd sincerely john havel sr veitnam era veteran

Amazing. What a time in which we live.

I appreciate this information because I have had a lot of scammers within the last 30 days. This really helps. I have had someone ask to see my entire utility bill and the individual was wearing an I.D. badge and said he was from the supplier for my utility company. Totally bogus.

Thank you so much for the opportunity to block telemarketers. So far I have had two call about a free vacation cruise to the Bahamas. I have started to leave my answering machine on so I can see if it's someone I know. Some of the telemarketers talk to the answering machine as if they were talking to a person, not a machine. Really bright people!

Thanks for blocking telemarketers from us. I have had 2 calls for a free cruise to the Bahamas.

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