Memorial Day is an American holiday honoring the men and women who died while serving in the U.S. military. It was formerly known as Decoration Day meant to honor the Union and the Confederate soldiers who died during the American Civil War. By the 1900s it had become a day to celebrate all American soldiers who died while serving in the military. It wasn’t until 1967 that it was legally named Memorial Day. Each year on Memorial Day a national moment of remembrance takes place at 3:00 p.m. local time.