While many military members will be able to use GI Bill funds to pay for their children's education, in many cases it won't be enough. Using a 529 plan to save for college expenses is a good idea. But you also need to understand how you can use 529 plan funds.
Under a special provision in the tax code military members can suspend the 5-year rule in order to qualify for the primary home exclusion. There's a pretty good chance your tax preparer won't know about this rule. Make sure you do.
Even if the VA takes a long, long time to adjudicate your disability claim, the clock is ticking on whether you can amend your prior returns under the Strickland Decision. The good news is that retired military members have a special rule to help with the delay with the VA.
Military spouses sacrifice as much or more for their nation as their spouse in uniform. When the military spouse is a female, she is likely to become a widow. Without proper planning her sacrifices earlier in life could be dwarfed by what she has to deal with after the military member's passing.
When your parents start reaching their later years, it can be difficult to choose the care option that best fits their needs and budget. Explore different options that will help them live in comfort without the financial burden.
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