Veterans and Estate Planning
by Mary Hilger
As a member of the military, you put your life on the line and make one of the most significant sacrifices you can make for your country, you, and your family. While the military provides a wide variety of legal services, you may want to consider creating a more complex and trust-based estate plan.
Most branches of the military will provide a simple estate plan for its service members, typically including a Last Will and Testament and Power of Attorney Documents. For many people, this is a great option that will allow peace of mind for you and your family. However, for servicemen and servicewomen who own businesses, have minor children, or who may be on a second or third marriage with minor children from each marriage, a more comprehensive estate plan is what you need.
A basic will may suffice for some, but most people don’t know that with a trust, your estate plan will still be carried out, but privately. Your assets, wishes, etc., would not be viewed by the general public, unlike with a will. Having a trust can also help your loved ones avoid high probate costs as well.
If you are an active military member, having a simple estate plan is better than nothing, but we highly encourage you to meet with us to discuss your family’s specific and unique needs. When our lives become unique, so should our estate plan. We want to make sure you and your family have a complete estate plan tailored to your individual situation to ensure you and your family’s future will be protected.