Estate planning isn't something you complete once and forget.
Many military families create a trust during a major life event such as getting married, welcoming children, retiring, starting their civilian career, or purchasing significant assets, such as their forever home. Once complete, they then put their documents in a safe place, assuming the work is done, and don’t glance at them again.
But life rarely stands still.
Over the years, your family, finances, and goals may change significantly. If your trust hasn't been reviewed in some time, it may no longer reflect your wishes as accurately as it once did.
Here’s why the financial professionals with AAFMAA Wealth Management & Trust LLC (AWM&T) encourage getting a second opinion review on your military family’s Trust. Read more to learn the ways it provides an opportunity to step back, evaluate your current plan, and determine whether it still meets your needs.
A trust should evolve as your life evolves. There are several components to consider and reasons to reevaluate your previous plans. For example, you may want to revisit your trust if you've experienced:
• Changes in Your Family: Marriage, divorce, remarriage, births, adoptions, grandchildren, or the loss of a loved one can all affect how you'd like your assets distributed.
• Changes in Your Financial Situation: Perhaps you've purchased additional property, accumulated investments, started a business, inherited assets, or your estate has grown substantially. Your trust should reflect those changes.
• Changes in Your Beneficiaries' Needs: Children become adults, grandchildren are born, or a beneficiary may develop special needs. Family circumstances change over time, and your trust should continue to support those you care about most.
• Changes in Your Trustee Selection: Have you considered whether your chosen trustee—and your successor trustee—are still willing and able to serve? Reviewing these appointments periodically helps ensure your wishes can be carried out effectively.
• Changes in Laws or Planning Strategies: Estate planning laws and best practices can evolve. A periodic review can help determine whether your trust still aligns with current planning opportunities.
• Simply Because Time Has Passed: Even if nothing major has changed, reviewing your trust every few years can provide confidence that it continues to reflect your goals.
Seeking a second opinion isn't about replacing your current plan. It's about confirming that your trust still accomplishes what you intended. Sometimes the review confirms everything is in excellent shape, but other times, it identifies opportunities to make small updates that could better protect your family and preserve your wishes. Either outcome provides valuable peace of mind.
If you're unsure where to begin or need assistance with trust planning, AWM&T offers guidance tailored to the unique circumstances of your military family. With our support, you can create a comprehensive plan that ensures the financial security of your loved ones.
Contact us today to learn how choosing a fiduciary like AWM&T is a wise financial decision for military professionals like you. Your financial success is our ultimate goal, and we are here to support you every step of the way. Speak to a professional or call 910-307-3500 to get started.
Founded in 2012, AAFMAA Wealth Management & Trust LLC (AWM&T) was created to meet the distinct financial needs of military families. We proudly deliver experienced, trustworthy financial planning, investment management, and trust administration services – all designed to promote lasting security and independence.
We are proud to share the mission, vision, and values of Armed Forces Mutual, our parent company. We consistently build on the Association’s rich history and tradition to provide our Members with a source of compassion, trust, and protection. At AWM&T, we are committed to serving as your trusted fiduciary, always putting your best interests first. Through Armed Forces Mutual's legacy and our financial guidance, we provide personalized wealth management solutions to military families across generations.