Military Finances 101: August Is National "Make a Will" Month
The military has probably told you that you need a will. If you listened, you might want to check it to see if it needs to be updated. If you didn't listen, now is the time to get one.
The military has probably told you that you need a will. If you listened, you might want to check it to see if it needs to be updated. If you didn't listen, now is the time to get one.
TSP can be a great option for accumulating assets while you're on Active Duty in the military. It can even make sense after you've retired from the military. But later in life, it becomes less clear.
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.
A look at the history of estate taxes, how they have changed over time, and will continue to change in the future.
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.
If you're in the military, you probably have a will. But just what does an will do and not do? Do you really need one?
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.
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