Estate planning is important for everyone nearing retirement age or looking to prepare for the final decades of life. However, as part of a military family, there are special considerations to take into account when making arrangements for your future asset distribution.
It is essential to plan ahead for your post-military life in retirement, as well as your end-of-life wishes in terms of elder law. A comprehensive estate plan includes all of these factors. Here are some particular issues to keep in mind as you head toward military retirement and beyond.
Veterans benefits including disability
A critical benefit that retired service members receive is that of veterans benefits. A military veteran may be eligible for a variety of different benefits, often referred to as VA benefits, which is an abbreviation for Veterans Affairs. One type of benefits is disability benefits. There are also training and education benefits available to family members in a military family in which a veteran is permanently and totally disabled, such as the Dependents' Educational Assistance Program. A disability planning lawyer can help you understand the various benefits available to you as a disabled military veteran.
Applying for benefits and denials
Part of the benefits process includes filing your application. If the VA denies your application, you may have an uphill climb in terms of appealing the decision. You can file an appeal for a denied VA benefits application. A veterans benefits lawyer can help. It is best to turn to the skill of a professional in this area because once your application has been denied, it can be more difficult to have success in the appeal.
Peace of mind for your military family
Benefits are also available to survivors of veterans. That means you can include advanced planning for possible benefits your family members may be eligible for after your death, including a survivors pension benefit for your surviving spouse and unmarried children if you had wartime service. The range of benefits available to you as a military veteran should be a part of your overall estate planning. Consult with a qualified attorney to assist you with all of your estate planning decisions.