On Memorial Day, we’d want to remember and appreciate those who have given their lives in the service of their country.
On Memorial Day, we’d want to remember and appreciate those who have given their lives in the service of their country. Military service members and their families have made significant sacrifices throughout our great nation’s history to keep us secure and to safeguard the liberties we enjoy.
In their honor, we’ve compiled a collection of estate planning papers that every military member should complete or amend before to deployment:
Last Will and Testament – Everyone need a will, yet just about half of all Americans have one. Make sure your family is taken care of by describing your desires for asset distribution and child guardianship in a Last Will and Testament. You may choose someone you trust to carry out your desires and safeguard your loved ones after your death.
Living Will – If you are hospitalized and disabled, a Living Will allows you to specify the kind of care you want to receive ahead of time. You may use this page to express your treatment and resuscitation choices.
Healthcare Power of Attorney — Rather than specifying your healthcare choices in a Living Will, a Healthcare Power of Attorney lets you to delegate decision-making authority to a trusted representative, such as a spouse, family member, or close friend.
Military Power of Attorney – When you are deployed, you may need someone to act on your behalf. A Military Power of Attorney enables you to delegate such power to a trustworthy person to manage your legal or financial affairs, such as managing real estate transactions, accessing bank accounts, and paying taxes, among other things.
Power of Attorney for Child — As a deployed parent, you’ll want to ensure that your children are well-cared for. In your absence, a Power of Attorney for Child permits you to delegate decision-making authority to another caregiver, such as a grandmother or nanny. When not tied to military duty, the term of this document is normally restricted to six months. When it comes to military service personnel who are parents of young children, however, federal law enables the power of attorney to endure for the whole term of deployment.
With these five legal papers in hand, you’ll be better prepared for the unexpected and have the peace of mind to concentrate on what’s most important to you and your family.
