Sunday, December 30, 2012
I have frequently blogged about lessons that we can learn from the death of celebrities. Recently, Norman Schwarzkopf, the commander of coalition forces in Operation Desert Shield, passed away from complications with pneumonia. There are two main lessons to take from his estate planning.
First, legacy and reputation are just as important in planning an estate as what to do with the physical and monetary assets. After his time in the Gulf War, Schwarzkopf was able to become an author, speaker, and live a private life with his wife and children. He stayed out of the public eye despite offers to enter into politics and he was able to keep the positive legacy that he earned during his military career. Passing on that good family name could be just as important as passing on an Evan Guthrie Law Firm inheritance.
Second, every veteran should be knowledgeable of the benefits that are available to them. One does not have to be a general to take advantage of benefits. The US Department of Veterans Affairs or an elder law or veteran's attorney can help to identify what options any given veteran may have.
See Evan Guthrie Law Firm, Estate Planning: Lessons Learned From Norman Schwarzkopf, JDsupra, Dec. 28, 2012.
Special thanks to Jim Hillhouse (Professional Legal Marketing (PLM, Inc.)) for bringing this article to my attention.