Financial Planning after Loss | Tax Forgiveness
Understanding the Probate Process, Survivor Benefits and Resources for Financial Planning
While no actions can erase the pain you feel after losing a family member or loved one, getting your financial and legal affairs in order can be a small step in the right direction and can provide some peace of mind during this difficult time.
After the death of a loved one, the last things you want to think about are taxes. However, your loved one may be entitled to certain benefits, including tax forgiveness. Here are answers to some common questions about tax liability and forgiveness.
Tax Extensions for Survivors
If you're a survivor of a service member who has died on active duty, you may have the option of taking extra time to file your tax return.
Understanding the Survivor Benefit Plan
The Survivor Benefit Plan, or SRB, allows retired service members to allocate a portion of their retired pay to a spouse or other eligible beneficiary after their death. Every retiring service member with an eligible spouse or child receives automatic enrollment in the Survivor Benefit Plan at the maximum level
Funeral and Burial Benefits for Service Members
The Department of Defense and Department of Veterans Affairs ensure that service members who die on active duty receive recognition and dignified burial services. Furthermore, survivors are offered care and help.