• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer

Parman & Easterday

Oklahoma Estate Planning Attorneys

Call Now: (405) 843-6100 |
(918) 615-2700

Attend an Education Program-Oklahoma City Area Attend An Education Program in the Tulsa Area
  • Home
  • Our Firm
    • About Our Firm
    • Attorney and Staff Profiles
    • What Our Clients Say
  • Estate Planning
    • Asset Protection
    • Business Succession Planning
    • Estate and Gift Tax Figures
    • Estate Planning Services
    • Family-Owned Businesses & Farms
    • Financial Planning Assistance
    • IRA and Retirement Planning
    • Legacy Planning
    • LGBTQ Estate Planning
    • Pet Planning
    • Powers of Attorney
    • Probate
    • SECURE Act
    • Special Needs Planning
    • Trust Administration and Probate
    • Young Families
  • Elder Law
    • Coping With Alzheimer’s
    • Elder Law
    • Emergency Medicaid
    • Guardianship & Conservatorship
    • Hospice Care
    • Medicaid Planning
    • Veteran’s Benefits
  • Resources
    • Asset Protection Worksheet
    • DocuBank
    • Elder Law
      • Elder Law & Medicaid Definitions
      • Elder Law Reports
      • Elder Law Resources
        • Edmond Elder Law
        • Oklahoma City Elder Law
        • Overland Park Elder Law
        • Yukon Elder Law
      • Medicaid
      • Nursing Home Resources
    • Estate Planning
      • An Overview of Estate and Gift Taxes
      • Estate Planning Checkup
      • Estate Planning Definitions
      • Estate Planning Reports
        • Advanced Estate Planning
        • Basic Estate Planning
        • Estate Planning for Niches
        • Trust Administration
      • Incapacity Planning Definitions
      • Is Your Estate Plan Outdated?
      • Top 10 Estate and Legacy Planning Techniques
    • Free Estate Planning Worksheet
    • Frequently Asked Questions
      • Alzheimer’s FAQs
      • Asset Protection Planning
      • Estate Planning
      • Elder Law
      • Frequently Asked Questions for Families Without an Estate Plan
      • Inheritance Planning for Minors
      • Legacy Wealth Planning
      • LGBTQ Estate Planning
      • Medicaid Planning
      • Nursing Home Asset Protection
      • Probate
      • Trust Administration
      • Trust Administration & Probate
      • Wills and Trusts
    • Newsletters
    • Probate and Trust Administration
      • Bereavement Resources
      • How to Know if You Need Extra Help With Your Grieving
      • Loss of a Loved One
      • Probate Checklist
      • The Mourner’s Bill of Rights
      • Things You Need To Do When a Loved One Passes Away With a Trust
      • Things You Need To Do When a Loved One Passes Away With a Will
      • Trust Administration & Probate Definitions
    • Probate Resources
      • Midwest City Probate
      • Moore Probate
      • Oklahoma City Probate
      • Overland Park Probate
    • Published Books
    • Pre Consultation Form
  • Communities We Serve
    • Edmond
    • Midwest City
    • Moore
    • Norman
    • Oklahoma City
    • Yukon
  • Reviews
    • Our Reviews
    • Review Us
  • BLOG
  • Contact Us
Home » Uncategorized » A Look at the Military Survivor Benefit Plan

A Look at the Military Survivor Benefit Plan

December 3, 2012 by Larry Parman, Attorney at Law

The opportunities for long-term planning solutions for members of the Armed Forces can be quite exciting.

It is easy to say that everyone should make sure they are not overly reliant on Social Security. However, military veterans who spend at least 20 years in the service have a very clear-cut path to a comfortable retirement.

There are a couple of different routes that you can take. You could serve for forty years and retire with your pension being equal to your full base pay. This solid pension coupled with your Social Security benefit should provide you with a totally adequate ongoing income stream after you retire.

Others choose to retire after 20 years and accept a military pension that is based on a percentage of their base pay. At that point you could start a brand-new career as a civilian and contribute into the 401(k) plan at work for an extended period of time.

If you are conservative financially you can simply save your monthly military pension until you reach the age of Social Security eligibility. You could then retire with both a military pension and your Social Security benefit and have access to your 401(k) savings going forward.

It is important to understand the fact that your spouse would not receive your military pension after you pass away. So, it is advisable to pay into the Survivor Benefit Plan after you retire. You can pay premiums that will result in your surviving spouse receiving a monthly benefit equal to 55% of your military retirement pension if you opt for the maximum level of coverage.

To learn more details about the Survivor Benefit Plan simply take a moment to arrange for a consultation with an Oklahoma City retirement planning lawyer who has a background assisting military service veterans.

Larry Parman
Author, President and Founding Attorney
Parman & Easterday

  • Author
  • Recent Posts
Larry Parman, Attorney at Law
Larry Parman, Attorney at Law
Founder and Owner at Parman & Easterday
After helping his own family deal with a lengthy probate and the IRS following his father’s untimely death in a farm accident, Larry Parman made a decision to help families create effective estate plans designed to reduce taxes, minimize legal interference with the transfer of assets to one’s heirs, and protect his clients’ assets from predators and creditors.
Larry Parman, Attorney at Law
Latest posts by Larry Parman, Attorney at Law (see all)
  • Estate Administration 101 - February 2, 2023
  • Why Do You Need an Elder Law Attorney? - January 31, 2023
  • Inheritance Planning for Blended Families - January 26, 2023

Filed Under: Uncategorized Tagged With: Celebrity Estate Planning, guardianship proceedings, healthcare, Reverse Mortgages, Veterans Benefits Planning

Other Articles You May Find Useful

estate planning
Don’t Overcomplicate the Estate Planning Process
Young Family
Will Your Estate Plan Still Work If You Move?
Parman & Easterday
Priceless Lesson from a 43-Year-Old Index Card
Making Use of a Letter of Instruction
Making Use of a Letter of Instruction
Larry Parman Interview
Larry Parman’s Brother, A Medical Doctor, Survives COVID-19 and Shares Important Lessons Learned in This Interview
Larry Parman Attorney at Law
Estate Planning 101: Founding Attorney, Larry Parman, Explains What Stuff Your Estate Consists of Exactly

Primary Sidebar

Parman & Easterday, LLP

DOWNLOAD OUR FREE ESTATE PLANNING CHECKLIST

SUBSCRIBE TO OUR BLOG

Follow Us

  • Facebook
  • LinkedIn
  • Twitter
  • YouTube

Where We Are

OKLAHOMA CITY, OK
13913 Quail Pointe Drive, Suite B
Oklahoma City, OK 73134
Phone: (405) 843-6100
Fax: (405) 917-7018

MAP

parman_sidbr_map

Where We Are

TULSA, OK
Memorial Place 7633 E. 63rd Place
Tulsa, OK 74133
Phone: (918) 615-2700

MAP

parman_sidbr_map

Office Hours

Monday9:00 AM - 5:30 PM
Tuesday9:00 AM - 5:30 PM
Wednesday9:00 AM - 5:30 PM
Thursday9:00 AM - 5:30 PM
Friday9:00 AM - 12:00 PM

Footer

footer-logo

The information on this Oklahoma Law Firm website is for general information purposes only. Nothing on this or associated pages, documents, comments, answers, emails, or other communications should be taken as legal advice for any individual case or situation. This information on this website is not intended to create, and receipt or viewing of this information does not constitute, an attorney-client relationship.

Oklahoma City Estate Planning Attorneys at Parman & Easterday offer estate planning services in the Oklahoma City, Oklahoma and surrounding areas. Contact us for help today.

Privacy Policy | Contact Us | Disclaimer | Site Map | Powered by American Academy of Estate Planning Attorneys


© 2023 American Academy of Estate Planning Attorneys, Inc.
  • Facebook
  • LinkedIn
  • Twitter
  • YouTube