When you think of the term veteran estate planning, what comes to mind? For many, you might see it as a way to protect your family and ensure they will be taken care of if you die or become terminally ill. But it can also be so much more.
What Is Veteran Estate and Legacy Planning?
Being in the military means assuming a higher level of risk of injury or death. Estate planning can help veterans and their families make sound decisions regarding the distribution of their assets. Every adult should consider estate planning, but it’s even more important for veterans and their families. Regardless of your assets, you want to put a legal plan in place to protect your loved ones and your legacy.
When planning your estate, there are some basic things to consider related to wills and trusts. How these documents should be prepared and distributed in the event you become wounded, fall ill, or seriously injured in the line of duty. The most crucial factor to consider when starting the process is finding the right attorney to help execute these documents when the time comes.
Things Veterans Should Consider
Depending on your specific situation and needs, determining what content you should cover when veteran estate planning differs. The Mark Weseman Law team can help you arrange your will and define where and how your assets should be divided upon your death. Assigning a guardian or conservatorship is essential for veterans and their families, especially if both parents are deployed simultaneously. Making sure your children have proper guardians or trustees in place will ensure that they are taken care of according to your wishes.
Veterans should also consider assigning medical power of attorney or general power of attorney. This person should be someone close to the family and someone who you trust to make decisions and give medical directives if you’re unable to do so for yourself.
A lawyer who specializes in veteran estate planning can also help you make funeral plans in advance. One of the hardest things for loved ones to arrange after you die is finding a way for family and friends to say goodbye.
There’s no time like the present to start veteran estate planning. Contact our offices for more information about how to protect your legacy.