National Estate Planning Awareness Month: Why Military Families Need an Estate Plan
Estate planning is often misunderstood as a task reserved for later in life. In truth, it is an act of foresight, stewardship, and love. For military families, whose lives are shaped by mobility, sacrifice, and uncertainty, the need for careful planning is both immediate and essential.
The rhythm of military life is rarely predictable. Deployments, relocations, and the inherent risks of service mean that questions of “what if” are not distant hypotheticals, but part of daily reality. For spouses who often serve as caregivers, financial managers, and decision-makers in times of separation, an estate plan is not a formality. Instead, it is a safeguard that preserves stability and clarity when families are confronted with the unexpected.
The Unique Estate Planning Needs of Military Families
Every family benefits from estate planning, but military families face additional challenges. Frequent relocations create layers of complexity, as families must ensure that their plans remain valid across state lines. The heightened risks associated with service, whether in combat or training environments, increase the urgency of preparedness.
Military families must also navigate a complex network of benefits, which includes the Survivor Benefit Plan, educational benefits transfers, and Thrift Savings Plan accounts. These resources can be invaluable, but they require intentional coordination to be fully integrated into a broader estate plan. Added to this are the invisible burdens carried by military spouses, who often act as both caregivers and anchors of the household. For them, clear legal authority and careful documentation are essential to easing moments of crisis.
Building a Thoughtful Plan
Addressing these challenges begins with a few essential steps. A legally binding will can help determine how assets are distributed and also provide guardianship arrangements for dependents. Establishing a power of attorney helps ensure that trusted individuals can make financial and medical decisions if a service member is unavailable. Further, an advance healthcare directive can help provide clarity and comfort by recording medical care preferences in advance.
Equally important is the ongoing review of beneficiary designations on accounts such as SFLI, TSP, and retirement plans. These should be updated regularly, especially after significant life changes, such as a move, marriage, or the birth of a child. Organizing key documents, including military orders, benefit information, and insurance policies, in one secure and accessible location allows families to respond quickly when needed. Finally, seeking professional guidance through legal assistance offices of military-savvy financial advisors ensures that both military benefits and civilian assets are carefully aligned.
If You Haven’t Started, Begin Here
- Schedule an appointment with your installation’s legal assistance office or a trusted estate planning attorney.
- Draft or update your will, making sure guardianship for dependents is clearly outlined.
- Establish both financial and medical powers of attorney.
- Review and update all beneficiary designations, including SGLI and TSP accounts.
- Write down your medical preferences in an advance directive.
- Gather your essential documents in one safe and accessible location, and inform a trusted family member where to find them.
To make getting started even easier, the National Military Family Association has partnered with LifeLegacy to provide families with a free online tool to create a will. Through LifeLegacy’s charitable giving option, you may also choose to leave a planned gift to NMFA, ensuring that our mission to support military families continues for generations to come.
A Reflection to Carry Forward
To create an estate plan is to honor both the people, responsibilities, and principles that matter most. It declares that even amid the challenges of service life, families deserve continuity and care. The act of planning is not rooted in fear of what may come, but in love for those who remain. By taking these steps today, military families preserve not only their financial security but also their stories, their legacies and their vision for the future. In doing so, they embody the quiet courage that defines military life, ensuring that the best of who they are will endure for generations to come.
By: Olivia Brinsfield, Content Manager
