With Veterans Day approaching, we pause to honor the brave men and women who served our nation with unwavering dedication. Your military service exemplified a commitment to safeguarding America’s future—now, it’s time to secure your family’s future through thoughtful estate planning, or what I call Life & Legacy Planning. Just as you carried out missions with precision during your service, attending to your Life & Legacy Plan with the same level of detail can ensure your loved ones are cared for and your legacy is preserved.
In this article, I’ll guide you through estate planning options tailored for veterans, highlighting steps you can take to secure your family’s future. Let’s begin with understanding the unique benefits available to you as a veteran.
Maximizing Your Veterans Benefits
Your military service has earned benefits for both you and your family that can extend beyond your lifetime. The Department of Veterans Affairs (VA) offers a range of programs to provide for your loved ones after you’re gone. For example, if you pass away due to a service-connected condition, your spouse may qualify for Dependency and Indemnity Compensation (DIC). Additionally, your family may be eligible for burial benefits, including a burial plot in a national cemetery, a headstone or marker, and a burial flag.
To ensure your family can access these benefits, keep your discharge papers (DD Form 214) with your estate planning documents and inform your executor of their location. Keeping a current list of all VA benefits you receive will be invaluable for your family’s continued access. When we work together to create your Life & Legacy Plan, I will help you organize this information, so your family receives the benefits they’re entitled to—without unnecessary confusion or missed opportunities.
Crafting Your Estate Planning Strategy
Life & Legacy Planning for veterans involves carefully managing both military and civilian assets. I recommend creating a comprehensive inventory of your assets, which may include:
- Military pensions and retirement accounts
- Life insurance policies (both military and private)
- Property and real estate
- Investment accounts
- Personal belongings with sentimental or monetary value
During a Life & Legacy Planning Session, we will work together to create this inventory before building your plan. This inventory is essential; without it, your family may struggle to locate assets you intended to pass down.
After compiling your inventory, we’ll meet for a comprehensive review, assessing your assets, benefits, family dynamics, and the legacy you want to leave. Together, we’ll create a plan that aligns with your values, budget, and goals.
While the military legal assistance office provides free basic estate planning documents, these may not meet your needs if you have minor children, a blended family, a family member with special needs, significant assets, or a business. A basic, documents-only plan may lack the regular updates necessary to keep your plan effective as your life, family, and assets evolve. By working with me to create a Life & Legacy Plan, you gain a trusted advisor and a plan that is regularly reviewed, keeping your family out of court and conflict. I encourage you to explore your options—check out the free resources on my website or schedule a complimentary consult call to learn more.
Working with a Trusted Advisor
While the military legal assistance office offers valuable services, working with an attorney familiar with both veterans’ benefits and estate planning can be especially beneficial if you have a more complex situation, such as a blended family, a special needs family member, a chronic illness, or diverse assets. A knowledgeable attorney can help you:
- Structure your estate to maximize benefits for survivors
- Set up trusts to protect assets if long-term care is needed
- Navigate complex VA regulations
- Ensure your estate plan complies with state and federal laws
- Keep your plan current as laws and regulations change
To learn more, book a complimentary call with us below to discuss the right strategy for you and your family.
Honoring Your Legacy
Your dedication to protecting what matters most through your military service deserves recognition. Now, it’s time to extend that protection to your legacy through careful estate planning. Taking these steps today allows you to ensure your family’s future security and well-being. Remember, Life & Legacy Planning isn’t a one-time effort; it’s essential to review and update your plan regularly, especially after major life events such as marriage, divorce, a birth, or significant financial changes.
When you work with me, regular plan reviews are included, so your estate plan will function as intended when your family needs it. The peace of mind that comes from creating a Life & Legacy Plan is one of the greatest gifts you can offer your loved ones, honoring the sacrifices you’ve made for our country.
How We Help You Protect Your Legacy
Veterans have already given so much in service to our country. You shouldn’t have to worry about your family facing legal hurdles or missing out on the benefits you earned. As a Personal Family LawyerⓇ Firm, we help you design a Life & Legacy Plan that honors your service by protecting your family from court battles and maximizing the benefits available to them. Once your plan is in place, you can rest assured that your wishes will be honored and that your family is protected with the same dedication you showed in protecting our nation. Use the form at the bottom of this page to schedule your free fifteen minute consultation today!
This article is a service of The Life and Legacy Law Center, a Personal Family Lawyer® Firm. We don’t just draft documents; we ensure you make informed and empowered decisions about life and death, for yourself and the people you love. That’s why we offer a Life & Legacy Planning® Session, during which you will get more financially organized than you’ve ever been before and make all the best choices for the people you love. You can begin by calling our office today to schedule a Life & Legacy Planning Session.
The content is sourced from Personal Family Lawyer® for use by Personal Family Lawyer firms, a source believed to be providing accurate information. This material was created for educational and informational purposes only and is not intended as ERISA, tax, legal, or investment advice. If you are seeking legal advice specific to your needs, such advice services must be obtained on your own separate from this educational material.