Q: As an active service member, are there any special considerations I should take in doing my estate planning for my family and children?

by | Nov 11, 2020 | Estate Planning, Q&A, Trust And Estate Administration |

Service members have life insurance through Servicemembers’ Group Life Insurance. If you have a living trust, name it as the beneficiary of the life insurance policy. If you have minor children but don’t have a trust, you should definitely create one and name it as the beneficiary of your life insurance policy to make sure the proceeds don’t get locked up in a court custodianship until your children turn 18. The living trust can also be used to receive survivor benefits in the event you pass away during your service. Finally, your final disposition instructions document ensures your final wishes are carried out (and remember, your family will be eligible to receive funeral and burial benefits through VA).

If you have any questions about this, please feel free to reach out to us (707-681-5851 or [email protected]) or set up a complimentary consultation at your convenience by clicking on the following link: https://MyNapaLawyer.as.me/