In the event that something happens to you, how far do you want doctors to go to revive you? Whom would you prefer to manage your affairs? What do you want to happen to your estate? These are questions that you would no doubt like answered if something unexpected happens and you’re unable to make these decisions.
Why you need estate planning
While everyone can benefit from estate planning, service members understand that military life can be particularly dangerous. Just like in civilian life, it’s not always possible to predict what will come next.
Estate planning allows you to decide what the future will be like for your family should something happen to you. Without the proper arrangements, the distribution of your assets can be somewhat unpredictable. If you make your intentions clear ahead of time, you can determine what happens to your personal assets, property and financial obligations.
This also makes plans for your health care clear should you become unable to make decisions for yourself. Without this, your family could be left with large amounts of debt from medical bills.
In addition to being pragmatic, estate planning can take a large load off your family’s shoulders. With everything arranged ahead of time, neither you nor your loved ones have to worry about certain decisions that would have to be made in the event you become disabled or deceased.
To help get your affairs in order, use the AFBA estate planning checklist
We’ve created a helpful checklist to assist you with estate planning. Included is a list of necessary steps for successful arrangements, such as:
Draw up a will
First, you’ll need to prepare a document that outlines some very important details. This means naming a personal representative and substitute to carry out your wishes, providing a full list of assets and organizing funeral and burial intentions, among other tasks.
An executor of estate needs to be named in this document. This is the person who’s responsible for ensuring your intentions are carried out. The executor is a very important person and should be carefully considered, as they will work with your attorney, identify and manage your probate assets (bank accounts, property, life insurance etc.) and handle your debts.
Arrange for power of attorney
If you become unable to manage your estate, a loved one or other trusted representative can do it for you. While you can revoke this determination at any time, it otherwise lasts for your lifetime.
Create a “living will”
This isn’t the same thing as a traditional will. The living will decides what health care you do or don’t want should you become unable to make decisions for yourself. For example, to what extent should doctors try to resuscitate you? Do you want to be placed on a ventilator if needed to keep you alive?
Gather necessary documents
Personal documents, bank accounts, income tax information and various other papers and pieces of information need to be consolidated. This includes passwords for your online accounts, especially your banking credentials.
You don’t have to do all of this on your own. These steps can be made easier if you appoint a law firm to help you.
Help your loved ones by making plans for the future
There are many unknowns in life, both for civilians and active duty service members. With estate planning, you can get your affairs in order and be more certain of what happens to you and your loved ones. While you may not be able to predict what the future holds, you can still plan for it.
Every November since 1993 has been federally recognized as Military Family Appreciation Month. During this month, several military-themed holidays are celebrated. This period is a great opportunity to show your appreciation for both veterans and military families who have loved ones in the armed forces. If you know any of these people in your life or just want to anonymously help out with those you might not know, November is the perfect time to show them you recognize the uncommon challenges they go through.
Military families serve along with their loved servicemembers. They are aware of the risks involved in serving in the armed forces as well as the sacrifice of being away from them during long periods of training and deployment.
The history of Military Family Appreciation Month
In 1993, the Armed Services YMCA looked for a way to honor military families and recognize their sacrifice, dedication, and contributions to the armed forces which they’re an intrinsic part of. Thus, they came up with Military Family Appreciation Month as a time to do exactly that. After being officially endorsed by the President of the United States, November was chosen as the month in which the observation would take place.
What military-related holidays happen in November?
Several important holidays take place in November, and they’re perfect opportunities to plan out your shows of appreciation.
First is the Marine Corps’ Birthday on Nov. 10. This originated in 1921, when Marine Corps Order No. 47 was issued. This order intended to commemorate the founding of the Marine Corps and directed that it be repeated each year on the same day. This day is typically commemorated with the annual Marine Corps Birthday Ball. First held in 1925 and observed every year since, the ball includes entertainment, cake, and a formal dinner.
The celebration of the Marine Corps’ birthday has evolved over the years. In 1923, a formal dance was held at the Marine Barracks in Ft. Mifflin, Pennsylvania. Meanwhile, a mock battle occurred at the Washington Navy Yard, and a baseball game was held at Guantanamo Bay, Cuba. Later, in 1925, the first official Birthday Ball was held in Philadelphia. The cake-cutting ceremony began in 1952, which included the first piece of cake being presented to the oldest Marine present and being passed to the youngest as a symbol of the tradition passing.
After that is Veterans Day on Nov. 11. This day is especially important, as it is a federally-recognized holiday specifically meant as a day to pay respect to veterans. The day was originally known as Armistice Day to commemorate the end of World War I, but was later expanded to include all veterans.
Thanksgiving is also a part of Military Family Appreciation Month as one of the ideal times to give thanks to the people in our armed forces who have dedicated their lives to keeping America and its citizens safe from harm. Military families at the Thanksgiving table can use this opportunity to appreciate their loved servicemembers, while non-military families can take the time to show respect to both servicemembers and their families.
However you choose to recognize the holidays during Military Family Appreciation Month, it’s important to always give thanks both to servicemembers and their families so they know they’re loved and appreciated. In addition to the ever-important respect toward the members of the armed forces themselves, remember that the families of servicemembers have their own unique challenges to tackle every day and they deserve recognition just as much as their cherished servicemembers do.