Email   Print   Share By Capt. MaCayn May, Legal Assistance Attorney

Facebook Digg Delicious July 19, 2012 | News

The goal of estate planning is to make arrangements for your property and dependents after your death. The primary document for arranging your affairs is a will. Closely related to estate planning and typically done at the same time are Advanced Medical Directives. Wills and Advanced Medical Directives have a number of issues that you should carefully consider before the drafting of the documents.

A will represents your final wishes on how your property should be distributed upon your death. The most obvious decision regarding a will is who will receive all your possessions, but there are several other very important decisions. One of the first decisions you have to make is who you want to be the executor or personal representative. It is the executor’s job to take your will to a probate court, gather your assets, pay off your debts, and distribute everything that is left according to your will. The executor is often a spouse, Family member, or trusted friend.

Anyone with children must address a few additional concerns. First, money cannot be given directly to someone under 18. If you leave money to a minor child, a trust must be created and a trustee appointed. A trust places the money in your child’s name; however, the child does not have any control over the money. A trustee’s job is to manage the child’s money until the child reaches the age you determine in your will. The benefit of setting up a trust is that you can be sure that the money will only be used for the child’s benefit. It is very important to understand that a trustee has legal obligations enforced by courts to ensure that the money is kept safely for the child, and the appointed trustee should have the capacity to understand his duty.

Sometimes a person will leave money to a Family member to care for the child. The danger in doing so is that the money belongs to the Family member and could be lost for any number of reasons. For example, if the Family member was sued for a car accident, all of the money could disappear. Typically, a trust is set up using the SGLI, because this is often a Soldier’s largest asset. However, certain language must be used when designating your children so that the SGLI will be linked to your will and you must ensure that your SGLI form contains this language.

Your will also allows you to designate a guardian for your children. If a biological parent is still alive, then he or she will typically keep custody of any children. If, however, both parents are deceased then the designated guardian can be very important. If a guardian is not designated, the court will decide for you who will take care of your children.

Often when making a will an individual also has an advanced medical directive drafted at the same time. Advanced medical directives consist of two primary documents. A medical power of attorney authorizes another person to make health care decisions for you when you are unable to. Common situations when a MPOA would be used are additional procedures during surgery, you have been knocked unconscious, or you are in a coma. A living will takes one decision out of the hands of the person with the MPOA. If a doctor determines that you have suffered an injury or disease that you will never recover from, you have decided that you want to be made comfortable, but do not want any life-supporting procedures like feeding tubes or breathing machines. Without a living will, it is up to the person with the MPOA to decide whether to leave you on, or take you off of life support.

As your Family and assets grow, estate planning becomes an absolute necessity and should be carefully thought over ahead of time. The Legal Assistance Office, located on 72nd Street and Santa Fe Avenue, provides basic estate planning for service members, their dependents, and retirees. A legal assistance attorney can answer any questions about estate planning and set up your will and advanced medical directives. To set up an appointment, call 287-7901.