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Financial Planning for Military Veterans: Shielding Your Legacy

financial planning for military

No one wants to think about their own mortality, but as a Veteran, you understand the importance of planning for the inevitable. So, have you done your estate planning? If not, financial planning for military Veterans with AAFMAA Wealth Management & Trust LLC (AWM&T) can help you get started.

While estate planning is important for everyone, it’s especially so for Veterans like you who receive government benefits that could offer support to your family if you become incapacitated or pass away.

Through financial planning for military Veterans with AWM&T, you can be confident and comforted knowing your family is taken care of and your legacy has been preserved.

What Is Estate Planning for Military Veterans?

Estate planning is about making decisions now to safeguard how your wishes for maintaining or distributing your business, property, investments, cash, and more are carried out if you’re ever incapacitated or pass away.

As part of financial planning for military Veterans, estate planning can also arrange your financial affairs to take care of your loved ones as you wish and to save them time, energy, and money during an emotional time.

Your estate planning should include:

  • Writing a will
  • Creating trusts
  • Writing a letter with funeral instructions
  • Establishing or reviewing life insurance
  • Organizing and storing all your documents

Once you make your estate plan, review it every couple of years or when you experience a life-changing event (such as an addition to the family) or if estate tax laws change.

Your Estate Plan

Financial planning for military Veterans with AWM&T can educate you on wills, trusts, powers of attorney, and other aspects of estate planning. AWM&T helps prepare you financially for the future and may work closely with your estate planning attorney, who provides legal advice and creates the necessary legal documents.

Here is what you may need in your estate plan:


A will is the document you use to designate how your property should be distributed upon your death. You also should name an executor for your estate and the guardian of any minor children, and designate a medical power of attorney.


Like a will, a trust lets you divide up your property, but you have more power over how. Your trust can hold on to any assets you place in it to preserve them for your heirs. Certain trusts also can help prevent your heirs from paying estate taxes.

Life Insurance

As you navigate long-term financial planning as a military Veteran, you should look at whether you have enough life insurance or the right life insurance and update your beneficiaries. If you have life insurance from the Department of Veterans Affairs (VA) and other military benefits, they can be placed in an irrevocable trust to keep for your loved ones.

Funeral Arrangements

At their time of loss, your loved ones will appreciate knowing how you would like your final moments to be handled. Write a letter laying out your funeral arrangements. Your letter can also include anything else you didn’t cover in your will and trust, such as how you want to pass items with sentimental value to others.

Having these documents and directives in place can go a long way in saving your family time and money in the future.

The Risk of Avoiding Financial Planning for Military Veterans

As a military Veteran, putting off estate planning or financial planning can create issues for you and your family if you become incapacitated or pass. The State may decide on your medical care if you’re disabled and even take control of distributing your property. Also, the Internal Revenue Service may come looking for taxes. In order to control how your assets are distributed and utilized, financial planning is key.

Find Military Financial Planning Help You Can Trust

At AWM&T, we exclusively serve military families just like yours. We’re here to deliver the wealth management solutions and the specialized financial advice you need and deserve. 

To get in touch, call 1-910-307-3500 or click here to speak to a professional. You can learn more information on our website here.

About the Firm

AWM&T was created in 2012 to meet the financial needs of military families. We provide experienced, trustworthy, long-range financial planning, investment management, and trust administration services to support financial independence and security. We aim to be the premier provider of fiduciary services by always working for your best interests.

We are proud to share the mission, vision, and values of AAFMAA, our parent company. We consistently build on AAFMAA’s rich history and tradition to provide Members with a source of compassion, trust, and protection. Through AAFMAA’s long-standing legacy and our financial expertise, AWM&T is honored to provide personalized wealth management services to military families across generations.

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