Worrying about estates tax is both a blessing and a curse and worrying about estate taxes is relatively rare amongst active and retired military members. That doesn't mean you should ignore them.
Does a GRAT make sense for you? If you've accumulated significant wealth during or after your military career, it could. Check out this article to get an idea if they are right for you.
SGLI and VGLI are insurance options offered to you by the government. There are other options available to supplement or replace the government options. Here are the basics of some of them.
The will your JAG did for you 15 years ago was probably o.k. But now that you're retired you might want to take a look at updating your estate plan. But what is in an estate plan?
It's pretty typical for Active-Duty Military members to own accounts jointly with spouses. Makes sense. You're gone a lot and your spouse needs to be able to do things without you. Maintaining that arrangement could cost a surviving spouse in the future.
As your life and assets grow more complex, you might want to consider a Trust-based estate plan which probably includes a Living Trust. Here is a primer on what it is.
When you were on Active Duty, you probably completed your estate planning at the JAG office (or the deployment line). Now that you're retired, you might want to take another look at it. Look out for these 8 myths as you come up with your plan.
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