Veterans’ Estate Planning Essentials
Secure Your Family and Honor Your Service
As Veterans Day approaches, we honor the courageous men and women who have served our country with dedication and resilience. Veterans’ legacy of service speaks to their commitment to protecting America's future. Now, it’s time to consider how you can protect your family’s future through a comprehensive estate plan, or what I call a Life & Legacy Plan. Learn more about your Veteran’s basic planning essentials.
Much like a military mission, estate planning requires attention to detail, foresight, and a commitment to those who depend on you. In this article, we'll explore the unique estate planning opportunities available for veterans and steps to ensure your family benefits fully from your legacy of service.
Unlocking Your Veterans Benefits: How They Secure Your Family's Future
As a veteran, you and your family may be eligible for exclusive benefits that continue even after your lifetime. These benefits from the Department of Veterans Affairs (VA) provide critical support, including:
Dependency and Indemnity Compensation (DIC) for spouses if your passing is service-related.
Burial benefits, such as a free burial plot in a national cemetery, a headstone, and a burial flag.
Keeping discharge papers (DD Form 214) and records of current VA benefits with your estate planning documents ensures your family can access these resources without hurdles. I’ll guide you through organizing these essential documents so your loved ones can quickly and easily claim every benefit they’re entitled to—no missed benefits, no unnecessary red tape.
Real-Life Example: How Estate Planning Helped a Veteran’s Family Avoid Hardship
Consider John, a retired Marine and father of two, who visited his estate planning attorney with a simple question about his pension but left with peace of mind. John assumed his VA pension and benefits were all he needed to take care of his family if something happened to him. However, as he and his attorney discussed, he learned that without a Life & Legacy Plan, his children could face unexpected challenges in accessing his military benefits. Additionally, John’s burial preferences in a national cemetery were not clear to his family.
After creating an inventory of his assets and benefits, John and his attorney crafted a Life & Legacy Plan that included clear instructions on his burial, designation of guardians for his children, and a trust that would ensure his family avoided court and legal fees. His spouse and children now have direct access to the support he earned. John’s plan now stands as a continuation of his dedication to his family and his country—a legacy secure and protected.
Essential Steps for Veterans’ Estate Planning
A Life & Legacy Plan is designed to address both military and civilian assets. Here are a few crucial steps in building your plan:
Create a Comprehensive Inventory of Assets
Make a detailed list of all assets, including your military pension, retirement accounts, life insurance, real estate, and investments. An inventory ensures that nothing gets lost and that your family can access each asset smoothly.Review Your Family’s Needs and Wishes
We’ll spend time in a Life & Legacy Planning Session reviewing your family’s needs, your personal goals, and the benefits your family can access, to build a plan that reflects your unique wishes.Stay Current with Regular Updates
Life changes—marriage, divorce, new children, or major asset changes—all impact estate plans. With regular plan reviews, I ensure your legacy adapts as your life evolves, providing ongoing protection.
The Difference Between Basic Military Estate Documents and a Life & Legacy Plan
Service members may access basic estate planning documents through military legal assistance, which may meet immediate needs but can fall short for those with specific circumstances like young children, a blended family, or special needs. Without a comprehensive plan, a simple documents-only approach may leave your loved ones facing legal challenges, loss of assets, or the unnecessary burden of court proceedings.
With my Life & Legacy Plan, veterans receive ongoing guidance and support, ensuring your estate adapts to changes in your family and finances and complies with both state and federal laws. This approach allows your family to stay out of court and avoid the high costs and delays that often accompany an incomplete plan.
Our Difference
When you meet with me for a Life & Legacy Planning Session, I will support you to create an inventory before we create your plan, because this inventory is incredibly important. Without an inventory, your family will not know how to find your assets and assets you care about could easily get lost, or be difficult to find.
Once you have created your inventory, we’ll meet for up to 2 hours and review your assets, your benefits, your family dynamics and your desires, values, and wishes for what you want to happen with everything you own and everyone you love, in the event of your incapacity, or eventual death. We’ll go through your asset inventory and I’ll tell you what will happen to each under your current estate plan. I’ll also tell you what will happen to your loved ones, including your minor children. Armed with this knowledge, you’ll then decide on the right plan for you, based on what’s important to you and in alignment with your budget.
Working with a Trusted Advisor for Your Peace of Mind
While military legal services provide a valuable starting point, many veterans benefit from working with an experienced estate planning attorney. If you have a unique family situation, valuable assets, or complex needs, I offer guidance tailored specifically for veterans. As your dedicated advisor, I’ll help you:
Structure your estate to maximize benefits for your loved ones.
Create trusts to protect assets from long-term care costs.
Navigate VA regulations that affect your benefits.
Update your plan as laws and family circumstances change.
By creating a Life & Legacy Plan, you are honoring your commitment to protect what matters most—your family’s security, well-being, and future. A secure estate plan provides invaluable peace of mind, knowing your loved ones will be protected and your wishes honored.
Protect Your Family With a Complete Estate Plan
You can create basic estate planning documents for free through the military legal services or on-line. While this option can be helpful, it might not be enough for everyone. If you have young children, you want to make sure they would be raised by people you trust if something were to happen to you. Or, if you have a blended family, a business, a child with special needs, or valuable assets, you’ll need a more complete plan to keep your loved ones out of court and avoid any family conflicts. Unfortunately, a simple, documents-only plan often falls short in these cases.
To make sure your plan works exactly how you want it to, it also needs regular reviews and updates. Your life and family situation can change over time, and so can your financial situation. That’s why working with a trusted advisor like me can make a big difference. With my Life & Legacy Plan, I’m here to support you every step of the way. I’ll keep your plan updated and make sure it protects you and your family the way it should.
Ready to Honor Your Legacy? Let’s Create Your Life & Legacy Plan
Just as you served with dedication, creating a Life & Legacy Plan is an act of service to your family. Whether you’re just getting started or ready to update an existing plan, I’m here to help you every step of the way. Veterans have given so much in service—let’s ensure your family benefits fully from your legacy.
Let’s work together to give you and your loved ones peace of mind. Click here to schedule a complimentary 15-minute consultation to learn more about how we can help you give your loved ones peace of mind.
Or, if you are ready to schedule your free up to two hours Family Vision Session to start you Life & Legacy plan today, click here.
This article is provided by Kristen Mackintosh, The Happy Lawyer, 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. Begin by calling our office today to schedule a Life & Legacy Planning Session™.
