European Stars and Stripes (Newspaper) - January 30, 1991, Darmstadt, Hesse                                Money amp taxes preparing for the inevitable by Randy Pruitt staff writer preparing for the worst. It s called estate planning and it s something most people keep putting off. Now the showdown in the saudi desert is. Forcing service members and their families to Deal with the ultimate crisis. Jerry Shiles chief of Legal assistance for 21st. Theatre army area command helps people answer an important question Quot what s going to happen when i m not around la. Me and others in judge advocate offices have been Busy drawing up wills for single and married. Service members and setting up trusts for their children. A. A a Quot reality is sinking in fast Quot he said. Quot i think desert. Shield was an Awakening for Many that they really had t taken care of  Shiles said people should decide first if they need a will. A a a. Quot if a person is single no children no obligations and there s nothing unique or special they want to do with their property they probably Don t need one Quot he  estate automatically would go to their parents. If the parents Are deceased Brothers and Sisters would inherit the property followed by uncles and aunts Shiles said. Quot if they have been married before or if they have what a child will Cost you la spend at least $265,249 to raise him or her to 22 years of age according to the . Department of agriculture. That includes housing costs of $84,880, food $61,007, transportation $39,787,. Clothing $18, 567 and medical Bills not covered by insurance $18,567. Moreover economies of scale Are minimal. Bringing up two kids will Cost you $419,093 or about $209,546 per child three and four will run $568,959 and $758,612, respectively. No frills Cost to age 22 $265,249 plus $63,432 for four years of in Home Quot child care. Plus $9,100 for three years of preschool plus $27,606 for eight years of summer Camp plus $5,145 for six years of piano lessons plus $143,271 for private elementary and. High school plus $1,500 for a personal computer plus $300,134 for four years of Ivy league College m source Money Magazine Sims Susan Harris children from another marriage or they re married. And have children at this time it is quite possible they need a will Quot he said. Shiles said a husband an wife should be treated As individuals. A Quot we prefer that we see them separately and do separate plans for each of them because sometimes there is unnecessary stress when they Don t agree on All the . A sink s said he recommends setting up a Trust for the children of there is Lime. Quot but in a deployment scenario we just Don t have the. Ability to do that so we re limited to the uniform gifts to minors act. We incorporate that into the will if we re going to be leaving the assets to the children of the Soldier or his  a. A. A this Legal procedure designates who is going to be a responsible for controlling the fund and gives. Guidelines to the guardian. Further soldiers Are urged to create a durable Power of attorney. Quot we can incorporate a prisoner of War or missing in action clause which allows the Power of attorney to remain in effect if the persons Are prisoners or missing Quot he said. Also in some states the durable Power of attorney has been interpreted As giving the beneficiary the right to remove life support systems if a person is. In a coma. A. A a a. Quot one of the things we look at is a living will Quot he said. Quot that instrument Grants right to die authority to the surviving beneficiary so that beneficiary can. Authorize the turning Oil of life support systems if that becomes necessary Quot. Shiles said life insurance should be reviewed Many service members have Only the Standard servicemen s group life insurance policy. Quot if you Are single and have no children it s All you la Ever need. But i be had people come in Here with four children All under age 10, the Wile does t work or the husband does t work and it s obviously riot going to take care of that family s needs if. A something happens Quot he said. As a Rule of thumb Shiles recommends insurance equal to live to seven times the annual Salar Shiles said couples with children who have nil assets should still have a will. Couples should not assume that with the death of one spouse the other a will automatically inherit the estate. Before visiting a jag office individuals should know the answers to a number of Basic questions. Sink s said. A Quot who do you want to be the guardian of your children of Quot Shiles said. Quot you May want your Mother a to be guardian but if she is 65 years Oil and your child is one year old is that realistic / is she going to be Able to take  that child Lor the next 1 5 to 1 8 years1 does your Mother share sour own philosophy Quot in one Case Shiles said a couple chose the husband s father to be guardian but returned to the Jacol Tice a week later. 1 hey told Shiles they loved the Man  t see him us a permanent Influent e in their c Hill Reid s lies a a Weye democrats and Liberal i be the father drafting wills and Powers of attorney Are important parts of War preparation. Is a Republican and conservative we re not racist he is racist. We Don to want our children to be raised in that environment Quot Shiles quoted the couple. Individuals should know full names and Correct spelling and addresses of All those to be named in the will and should be familiar with their insurance policies provisions he said. There should be an inventory of Bank accounts the addresses of the Banks and account numbers. Any special gifts to individuals also should be mentioned he said. It a deployment is imminent it s time to discuss a debts Shiles said. A. Quot under the soldiers and sailors civil Relief act we  go Back to creditors in the states and request payments be  that interest rates be reduced to the statutory maximum. We can try to real rut lure the debt for them Quot he said. See related Story Page 9. Shiles warns that Louisiana is a complication to estate planning because it is a civil Law state rather than a common Law stale. Quot most jag offices Are not Able to do w ills Tor Louisiana residents Quot he said. Sink s   not to Wail until the last minute. Some show up at 4 . And they re leaving for saudi at 8 a or. The next morning. We Don t have time at that Point to gather All this information Quot he said. A. A. I however it s not too late even for soldiers in saudi Arabia. Jag Otti cers Are available in that country to cooler with military members. Shiles said the services the military offers free to soldiers would Cost from $300 to $500 in the states. It x important that people Letl behind know what s going on Quot he said. Quot if you make a will make sure it stays w Ith the person w to has to have it. If you have i surant e policies make sure they know where they . A 12 a a is amps financial planning guide wednesday january 30, 1991