Today, on Veterans Day, we honor the men and women who have dedicated themselves to protecting our nation’s freedoms. Your service to our country shows a commitment to safeguarding America’s future. But have you considered the importance of protecting your own family’s future as well? Just as each mission required careful planning, a well-crafted estate plan ensures your loved ones are cared for, and your legacy is preserved.
Understanding Your Veterans Benefits
Your years of service have earned you and your family a set of unique benefits through the Department of Veterans Affairs (VA). These benefits are here to support you, both in life and beyond. For example, if you pass from a service-connected condition, your spouse may qualify for Dependency and Indemnity Compensation (DIC). Burial benefits are also available, including a burial plot in a national cemetery, a headstone or marker, and a burial flag to honor your service.
To make sure your family can access these benefits: Keep your discharge papers (DD Form 214) alongside your estate planning documents, maintain an organized list of VA benefits you’re eligible for, so your family can access them without hassle.
Not sure how to organize your essential documents? We’re here to help! Let us guide you through the process, so your family can receive every benefit you’ve earned. Call us at 305-707-7126, and we’ll be happy to answer your questions!
Creating Your Estate Planning Strategy
Estate planning for veterans includes considerations for both military and civilian assets. Start by creating an inventory of everything you own, including: military pensions and retirement accounts, life insurance policies (both military and private), real estate and property, investment accounts, and personal items of sentimental or monetary value. Also, include your veteran’s benefits, ensuring they’re accessible to your loved ones and properly allocated.
Do’s and Don’ts of Veterans’ Estate Planning
- Do Include Your Digital Assets
From banking to social media, digital assets should be part of your plan to prevent them from being lost or inaccessible. - Do Keep Your Plan Updated
Life changes such as a new marriage, the birth of a child, or major financial shifts require updates to keep your plan current.
- Don’t Rely Only on Basic Military Estate Services
While the military offers foundational estate services, complex family structures, minor children, or substantial assets often require a comprehensive plan. - Don’t Keep Your Plans a Secret
Communicate your wishes with family to avoid misunderstandings and bring peace of mind.
Working with a Trusted Advisor
While military legal assistance offers basic support, an attorney experienced in both estate planning and veterans’ benefits provides additional insights for complex situations. A skilled estate planning attorney can help you: maximize benefits for your survivors, establish trusts for asset protection if long-term care is needed, ensure compliance with VA and federal regulations, keep your plan updated for life’s changes
Honoring Your Legacy
Veterans have given so much in service to our country. You deserve the peace of mind that comes from knowing your family won’t face unnecessary legal challenges or miss out on the benefits you’ve earned. At Trust Counsel, we are here to help you Protect Your Rich Life & Leave a Rich Legacy that truly honors you. Let’s find the best approach for your estate plan.
