A Guide to Key Financial and Care Planning Benefits for Veterans’ Families

As children and caregivers of veterans, you play an essential role in helping your loved one manage their financial, healthcare, and long-term planning needs. 

Many families are surprised to learn how many valuable benefits veterans and their spouses are eligible for—benefits that can meaningfully support long-term security, reduce financial stress, and ensure care needs are met with dignity. This guide highlights several important programs worth knowing about and helps you understand how they can fit into your broader financial plan.

Financial Planning and Estate Support Available to Veterans

Many families are unaware that veterans and eligible spouses who receive SGLI, VGLI, FSGLI, or TSGLI benefits have access to complimentary financial counseling through FinancialPoint Plus. This program offers up to 40 hours of professional guidance over two years, along with a digital will preparation tool that produces a legally valid will tailored to your state’s requirements. For caregivers and family members assisting with paperwork or organizing a veteran’s affairs, this resource can make the process far more manageable without incurring burdensome legal fees.

Establishing a strong estate plan is another important step in protecting a veteran’s wellbeing and wishes. Core documents typically include: 

• a will or trust
• powers of attorney for finances and healthcare
• advance directives (a living will) 

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Trusts can be especially helpful for families managing property in multiple states, facing complex VA benefit structures, or supporting a dependent with special needs. In those situations, a special needs trust can ensure long-term care for a disabled child or adult without jeopardizing Medicaid or VA eligibility.

For caregivers, having these documents in place can reduce uncertainty and ensure you’re empowered to make decisions when they matter most.

Long-Term Care Benefits That Can Support Caregivers

One of the most significant benefits available to aging veterans is the Aid & Attendance (A&A) pension program. This tax-free monthly benefit helps cover long-term care needs such as in-home caregivers, assisted living, or nursing home expenses—costs that often fall heavily on family members.

Maximum payments vary by household situation. For example, in 2025, benefits reached approximately:

• $2,358 per month for a single veteran
• $2,795 for a married veteran
• $1,515 for a surviving spouse

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For many families, this additional income can dramatically ease the financial burden of caregiving. Eligibility is based on medical need, military service criteria, and financial guidelines. 

The financial side can feel complex, as the VA uses the Maximum Annual Pension Rate (MAPR) to determine qualification. Countable income is reduced by deductible medical expenses—which can significantly help families who are already paying out-of-pocket for care.

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In addition to income rules, the VA assesses a net worth limit that includes a veteran’s income plus countable assets, excluding the primary home and vehicle. This limit adjusts annually and helps determine eligibility for programs like Aid & Attendance.

For adult children who are coordinating care or helping manage a parent’s finances, understanding these rules can make a meaningful difference in securing support that may already be available.

End-of-Life and Legacy Benefits That Ease the Burden on Families

Planning for the later stages of life is never easy, but doing so proactively can reduce stress for caregivers and honor a veteran’s wishes. The VA offers educational resources and planning tools to help families prepare, including support for advance care planning, survivor benefits, and life insurance considerations. Advance directives—also known as living wills—allow veterans to clearly document healthcare preferences, making decisions easier for children and caregivers during difficult moments.

When a veteran passes, the VA provides meaningful support to families, including:

• Headstones or markers at no cost in either private or VA national cemeteries
• Burial in a VA national cemetery at no charge for eligible veterans and their spouses
• Covered cemetery costs including the gravesite, opening and closing of the grave, perpetual care, a burial flag, and a Presidential Memorial Certificate

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Families can apply in advance through the VA’s pre-need eligibility process, which helps reduce uncertainty and ensures benefits are honored smoothly when the time comes.

These programs not only honor the service of the veteran but also ease the emotional and financial burden on their loved ones.

Supporting You as You Support Your Loved One

Together, these benefits—from financial counseling and estate planning support to long-term care programs and burial honors—can significantly improve the wellbeing and peace of mind of both veterans and the families caring for them. Understanding what’s available is the first step toward ensuring your loved one receives the full support they’ve earned through their service.

Complex financial situations can be burdensome, but you don’t have to navigate them alone. For more guidance and support surrounding veteran-adjacent finances, reach out to the Wealthquest team for a consultation.

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