Is Your Military Family’s Plan Up to Date?
A quick estate planning checkup for military families
Military life changes quickly.
Use this checklist to see what may need your attention.
1. Start with the basics
I have a current will.
Your will should reflect your current family, property and wishes, including who you want to manage your estate.
My spouse or partner has their own estate plan.
Estate planning is not only for the service member. Each adult should consider what would happen if they became incapacitated or died.
I have named an executor I still trust and who is able to serve.
I know which assets pass through my will and which have separate beneficiary designations.
Life insurance, retirement accounts and certain financial accounts may pass according to the beneficiary listed on the account rather than your will.
2. If you have children or other dependents
I have named the person or people I would want to care for my minor children if both parents died.
I have named backup guardians in case my first choice cannot serve.
I have considered how money or property left to my children should be managed while they are minors.
The people I have chosen know I have named them and are willing to serve.
If military duties could take me away from my dependents, my Family Care Plan is current, if one is required for my situation.
Military family reminder: A guardian named in an estate plan and the caregiver identified for a deployment are not necessarily the same thing. Make sure both plans reflect what your family actually needs.
3. Check your military benefits and beneficiaries
I have reviewed my SGLI coverage and beneficiary designation.
I have checked beneficiary designations on my TSP and any other retirement or investment accounts.
I have reviewed beneficiaries on civilian life insurance, employer benefits, bank accounts and other applicable financial accounts.
My Record of Emergency Data or service-specific emergency information is current.
My family’s information in DEERS is accurate and up to date.
Don’t assume these automatically match your will. Review each beneficiary designation separately, especially after marriage, divorce, the birth or adoption of a child, or another major family change.
4. Make a plan for incapacity, not just death
Estate planning also answers an important question: What happens if I am alive but temporarily or permanently unable to make decisions for myself?
I have an appropriate financial power of attorney.
I have an advance healthcare directive or living will documenting my medical wishes.
I have identified who can make healthcare decisions for me if I cannot.
My spouse or another trusted person knows who has authority to handle essential financial or legal matters during an emergency.
Deploying or heading to extended training?
Review whether you need a special or limited power of attorney for specific tasks such as managing a vehicle, housing issue, bank account or other transaction while you are away.
5. Could your family actually find everything?
A trusted person knows where my original estate-planning documents are stored.
I have an organized list of important accounts and institutions.
My family knows how to locate information about our mortgage or lease, insurance policies, vehicles, utilities and recurring bills.
I have a secure plan for important digital accounts and account recovery.
Important contacts are easy to find, including our attorney, financial institutions, insurance providers and military contacts.
I have a secure backup of essential records that would remain accessible during a PCS, evacuation or emergency.
Think like your spouse or caregiver: If you were unreachable tomorrow, would they know where to start?
6. Think beyond the paperwork
I have discussed my wishes with my spouse, partner or another trusted person.
I have considered funeral, burial or memorial wishes and documented them appropriately.
I have a plan for pets or other responsibilities someone would need to assume.
I have considered what personal belongings or family keepsakes I would want to go to specific people.
I have considered whether charitable giving is part of the legacy I want to leave.
7. Has military life changed since you last reviewed your plan?
It may be time for another look if you have:
Gotten married or divorced
Welcomed or adopted a child
Experienced a death in the family
PCSed or changed your state of legal residence
Purchased or sold a home
Deployed or received deployment orders
Changed duty status
Separated or retired from military service
Experienced a major change in finances or property
Changed your mind about a guardian, executor or beneficiary
If you checked any of these boxes, put “review estate plan” on your to-do list.
Your Three Next Steps
Review:
Identify anything on this checklist that is missing or out of date.
Update:
Make the necessary changes to your legal documents, beneficiary designations and military records.
Share The Plan:
Make sure the people who may need to act on your behalf know what they need to know and where important information is kept.
Ready to get started?
Through NMFA’s partnership with LifeLegacy, eligible military families can create essential estate-planning documents at no cost.
For military-specific legal questions, service members and eligible family members can also contact their installation Legal Assistance/JAG office or explore Military OneSource estate-planning resources.
This checklist is intended for educational purposes and does not constitute legal or financial advice. Estate-planning needs and laws vary by individual circumstances and jurisdiction.
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