Estate Planning for Veterans

If you are a veteran, then estate planning involves several different aspects for you. According to Estate Planning, veterans are often eligible for pensions. These include a veteran's pension. This is a benefit that provides veterans and their families with a supplemental income to assist them in meeting any financial challenges that they face. Normally veteran's benefits are tax-free and they are available to all wartime veterans that have a low income post-service.

Normally a veteran must have served a minimum of 90 days in active duty in order to receive this pension, and at least one out of those 90 days must be during a war-time period. A veteran that served after September 7^th, 1980 is required to serve approximately 24 months with at least one day during a wartime period in order to be eligible for this pension.

Also, if your spouse or parent is a deceased veteran who served during a war-time period you may be eligible for a survivor's pension. This is a benefit that is also known as a death pension and is tax-free. It is normally paid out to spouses of veterans that never remarried after the service member's death, or to the children of a deceased veteran. The service requirements for this pension are the same as those for Veteran's Pension.

A veteran must also be discharged from the military under conditions that were not dishonorable. If you are applying for this benefit as the child of a deceased veteran, then you must be under the age of 18 or under the age of 23 and attending a VA-approved school. You can also apply for this pension if you have been disabled since before you reached the age of 18 regardless of your current age. As a loved one of a deceased veteran, you will want to see how these pensions affect you. Contact an attorney promptly for more information!