In the military we become accustomed to clear cut rules and procedures. The tax code is "not so much". One of the areas that can be a little confusing is the transfer of funds due to inheritance and the taxation of those funds.
A poorly designed estate plan can be a curse for those who survive you. It can lead to court cases and family members that don't talk to each other anymore. Make sure your estate plan is a blessing.
Every unit you served in in the military had a mission. Shouldn't your family have a mission too?
While you were on Active Duty, deployments may have kept your "estate plan" up to date. Now that you're retired, how often should you update your estate planning documents.
There are a lot of advisors that "hate" annuities. But they can have their place in a financial plan. One possibility is inside a trust.
As our parents get older, it’s important to open up the conversation about their financial well-being. While it might be uncomfortable at first, it will ultimately be helpful for both you and them. Check out our tips on how to have that conversation!
As a retired Senior Military Officer or NCO, you may have accumulated significant wealth. You want wealth to last for generations. What should you be thinking about?
Dealing with the loss of a loved one is no fun. Dealing with their finances and taxes are no fun. Just like a civilian, military members often need to deal with those issues. Here are some things you need to know about taxes.
Trusts can be a very effective estate planning tool. They can also be a lot of work for a successor trustee. Since military members are often the "stable child", there's a good chance you could be named a successor trustee. Here are some basics you need to know.
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