Military families face unique challenges that require specialized estate planning. From survivor benefits to VA pensions, these resources provide vital support but can be complex to navigate. Whether you're on active duty, retired, or a veteran, careful planning ensures your family’s future is secure. Our experienced attorneys are here to guide you through the process, simplifying regulations and maximizing the benefits earned through service to our nation.
Military families have access to unique programs that can significantly impact their estate plans. Understanding these benefits is essential to providing long-term security for loved ones, even during difficult times.
The Survivor Benefit Plan (SBP) offers critical financial support by providing a monthly income to eligible survivors after a servicemember’s passing. Designed to replace lost retirement income, the SBP benefits spouses, children, and other dependents.
Enrolling in SBP ensures financial stability for families who rely on a military pension, as pension payments cease upon the servicemember's death without this coverage. The cost is typically a small percentage of retired pay, making it an affordable and vital option for most military families.
In addition to SBP, the Department of Veterans Affairs offers pensions for low-income surviving spouses and dependents of deceased veterans. These include:
These programs help cover daily expenses, preserving the family's quality of life during difficult transitions.
Estate planning for military families goes beyond understanding benefits. Comprehensive plans include critical legal documents to ensure your wishes are respected.
A will specifies how assets are distributed, preventing disputes and protecting your family’s legacy. A living will provides instructions for medical care if the servicemember becomes incapacitated, ensuring decisions align with their preferences.
A durable power of attorney (POA) empowers a trusted individual to make financial and legal decisions on your behalf. This is particularly useful during deployments or periods of absence, allowing the designated person to manage property, access bank accounts, and pay bills.
Servicemembers often have life insurance through the Servicemembers’ Group Life Insurance (SGLI) program. Designating and regularly updating beneficiaries ensures these assets pass directly to loved ones without complications. The same applies to Thrift Savings Plan (TSP) accounts, which are an integral part of many military families’ financial strategies.
Military families can access free legal assistance and financial counseling through resources like Military OneSource. These organizations provide guidance on drafting wills, understanding benefits, and securing financial stability, making the planning process more manageable.
Estate planning for military families requires balancing unique benefits, complex regulations, and personal wishes. At The Werner Law Firm, we proudly support military families by simplifying these challenges and creating comprehensive estate plans tailored to your needs. Whether you need help understanding VA benefits or drafting essential documents, our estate planning attorneys are here to ensure your family's future is secure.
Schedule a free appointment with us through our online appointment page to get started.
You can also read reviews from some of the hundreds of clients we’ve helped over the years.
Reference: Military OneSource (Sept. 19, 2024) “What Is Estate Planning?”
Founded in 1975 by L. Rob Werner, The Werner Law Firm and our dedicated attorneys are available for clients, friends, and family members to receive the legal help they need and deserve. You can trust in our experience and reputation to help navigate you through your unique legal matters.
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If you’re looking into taking care of your estate planning, we urge you to schedule a free initial appointment today and join the many satisfied clients who have contacted Werner Law Firm.
