Most Military Members and Veterans are familiar with their benefits under the GI Bill. There are also VA spousal and dependent education benefits available to spouses and children of certain Military Members and Veterans. Here is some information about them you should be aware of.
Whether to participate or not in a 529 plan is a less clear decision for an active or retired Military Officer or Senior NCO. You'll want to account for Veteran's Benefits and your state income tax situation as a start.
In the event of an active duty death or when making a decision at retirement, one option available is child-only SBP. The Tax Cuts and Jobs Act makes that option less appealing. Serving military officers should understand this and explain the issue to their spouse so he or she knows in the case of an untimely death or when making a decision at retirement.
The Survivor's Benefit Program (SBP) is an important benefit and should not be dismissed quickly by those retiring from the military. But what many don't know is that whether you're covered by SBP or not will affect your surviving spouse's access to the Federal Long-Term Care Insurance Program (FLTCIP)
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