Jessica Silver-Greenberg (NYTimes) has recently published an article entitled, “Winning Veterans’ Trust, and Profiting From It” (December 23, 2013). Provided below is the abstract to the article from NY Times:
Winning Veterans’ Trust, and Profiting From It
As you reach a certain age, retirement planning is essential. For Henry Schaffer, a World War II veteran, there was no question that he no longer could live on his own. His daughter Kristi began searching for retirement homes and the money to pay for it.
At Aspen View, a senior living complex in Billings, Mont., a lawyer accredited by the Department of Veterans Affairs, told the family Mr. Schaffer could probably qualify for a V.A discount. The problem lies after Mr. Schaffer moved in and they learned he did not qualify for a V.A discount at all. His daughter Kristi now says he worries he will be evicted as he can only afford about half of his monthly bills.
As baby boomers head toward retirement — worrying not only about their financial futures, but also their parents’ — a cottage industry has sprung up around the pension program.
Lawyers, financial advisers and insurance brokers have formed a lucrative alliance with retirement communities and assisted living facilities to extract many billions of taxpayer dollars from the V.A., according to interviews with state and federal authorities, as well as a review by The New York Times of hundreds of legal documents and client contracts.
For more information on this topic, continue reading the article “Winning Veterans’ Trust, and Profiting From It” by Jessica Silver-Greenberg.