Estate Planning for Military Families 

 Posted on February 20, 2025 in Estate Planning and Administration

One of the main goals of an estate plan is to protect you and your family from unforeseen financial and personal events that may occur. Military service members may be especially vulnerable to the consequences of unforeseen events, especially those who serve in frequent deployments. An estate plan should put in place mechanisms for the transfer of assets as well as processes for decision-making if the worst should happen.

All of these challenges can be successfully addressed by creating a comprehensive estate plan that takes into consideration the unique needs of military families and special programs available to them. An experienced Hood County, TX estate planning attorney can work with members of the military to create an estate plan that meets their needs. 

Estate Planning Factors for Military Families 

There are a few factors to consider before you make your estate plan that can help your attorney customize it to best fit your family’s needs. These include:

• Marital status

• Having children under age 18 or still in high school

• Military member status (whether you are currently serving or are a veteran)

• Living arrangements, specifically whether you will be living in one place or moving frequently

• Plans to give to charity

• Any assets you own, such as real estate, investments, and savings 

What to Include in Your Estate Plan

An estate plan should be tailored to your specific situation, but at a minimum, you should consider including the following:

Wills and Trusts

Both a last will and testament and a trust can lay out how you wish your assets to be distributed upon your passing. A will names an executor who will administer your estate, a guardian for any minor children, and instructions for the transfer of assets through the court process of probate. A trust, on the other hand, gives a trustee control to distribute and handle assets during your lifetime and beyond, depending on the type of trust. Assets in a trust generally do not have to go through probate. 

Survivor Benefit Plans (SBP)

This pension program is a type of military compensation that provides payments to surviving spouses and children of military service members after their passing. An estate planning attorney can ensure that you set up this plan to provide the most protection for your family. 

Life Insurance 

Life insurance can help protect your family after your passing. There are unique life insurance products for service members, such as the Servicemembers’ Group Life Insurance (SGLI) and Thrift Savings Plan (TSP). It is important to set up and update beneficiary designations as part of a comprehensive estate plan.

Durable Powers of Attorney (POA) 

A durable power of attorney appoints an individual to manage your affairs, whether financial, legal, or medical, in the event of your death or incapacitation. Powers of attorney are an essential aspect of an estate plan to protect your family in the event you are incapacitated and need assistance managing your affairs. 

Call an Experienced Hood County, TX Estate Planning Attorney

At Cain & Kiel Law, our experienced Tarrant County, TX estate planning attorneys build estate plans by consulting with our clients to understand their unique needs and figuring out the best way to structure an estate plan to protect those needs. Call our offices at 817-645-1717 for a consultation to discuss the best estate plan for your military family.