Watch Our Educational Masterclass!

Estate Planning For Life's Stages

 

MCCUNE MILITARY FAMILY PROGRAM

Protecting family legacy is what Ozarks Legacy Law is all about.

The McCune Military Family Program provides (free of charge) estate planning documents and support for up to twenty (20) active duty military members and their family annually.

For any active duty military family that calls the Ozarks home, simply call our office to see if your family qualifies for this free service from our office.

The McCune Military Family Program is established to honor Vickie McCune and her multigenerational military family to express our gratitude for a job well done and for all of Vickie’s endless dedication, commitment and kindness to Ozarks Legacy Law and our clients.

Vickie, our first Client Services Director, has served thousands of clients throughout her 11+ years with Ozarks Legacy Law.  Her husband, Tom, both of her children, Kyle and Tara, and her granddaughter, Maddyson, have all served in the United States Armed Forces.

If you know of a military family that would be interested in enrolling in this program, please give us a call.

 

For members of the military setting up — or revising an existing —estate plan is critically important. Often, active-duty military families need to consider special estate-planning issues that others do not.

Whether you are just starting your service in the military or have been serving for some time, consider the following common factors that may be important in your estate planning.

Factors to Consider

Estate plans should be customized to each person’s particular circumstances. In your estate planning, you should consider whether:

  • You own real property and, if so, if it is located in different states;
  • You are married;
  • You have minor children, or children with special needs;
  • You have money set aside in 401(k), IRAs, or thrift savings plans;
  • You plan to give to charity; and
  • You are moving multiple times across states or to different countries.

Estate Planning Necessities

There are many benefits offered to military families that can help with estate planning. These include:

Life insurance – Life insurance is an important part of an estate plan intended for those who are financially dependent upon you, especially if you are facing deployment. Active-duty members have access to low-cost life insurance for themselves and their loved ones from Service Members’ Life Insurance Group. More information can be found on the Department of Veterans Affairs website. When examining your life insurance, work with us to make sure that the beneficiary designation works the way you expect.

Will – A will is a crucial document outlining to whom and how you want your property distributed at your death. It also allows you to name who will administer your estate and specify who will care for a minor or special needs children.

Trust – A trust is a separate legal entity that can hold property and assets for the benefit of one or more people or entities. Similar to a will, a trust allows you to dictate who will receive your property at your death and how it is to be administered. The added benefit of a trust is that it also provides instructions on how to handle the assets during any period of your incapacity. For most families, a trust-centered estate plan is a better fit, but a will can work for some families.

Other benefits for survivors – Survivor benefit plans (SBP) are pension-type plans in the form of an annuity that will pay your surviving spouse and children a monthly benefit at your death. Likewise, dependency and indemnity compensation (D&IC) provides a monthly benefit to eligible survivors of servicemembers or veterans (1) who die while on active duty, (2) whose death is due to a service-related disease or injury, or (3) who are receiving or entitled to receive VA compensation for a service-related disability and are totally disabled. When you are examining any financial service or insurance product, it’s a good idea to work with an estate planning attorney to make sure any beneficiary designations work the way you expect and provide the maximum benefit to your family.