Power of Attorney Protects Servicemembers
There are a lot of loose ends to tie up before being shipped overseas. Storing belongings, canceling memberships, saying goodbye to loved ones. While many of the preparations one makes before being deployed will ensure that nothing will arise while they are away, there is always the chance that something will. It is for this reason that, before they’re shipped off, more and more servicepersons choose to sign a Power of Attorney.
What is a Power of Attorney?
A Power of Attorney is a document that assigns a family member or a friend as your attorney-in-fact. This empowers that person to handle any of your financial matters as if they are you. For example, your attorney in fact can withdraw money from your accounts, make a large purchase in your name, make essentially all of the financial decisions you would normally need to be present for. This can be incredibly useful, especially if a financial emergency with a loved one arises and there is no way to contact you.
What Should I Be Careful of When Signing a Power of Attorney?
When you decide to sign a Power of Attorney, it is important that you take a responsible approach to choosing who you appoint as your attorney-in-fact and what they are able to do. It is vital that the person you choose be trustworthy and reliable, as what they do on your behalf can greatly affect your financial future. You should also speak to your lawyer about limiting exactly what your attorney-in-fact will be empowered to do and to understand which rights you have given them before signing the document. This ensures that, while they are able to take care of anything that may come up, they do not have the power to change or control more than you feel comfortable with.
Can I Revoke The Power of Attorney When I Get Back?
Once you are back from overseas, it is relatively simple to revoke your Power of Attorney. Your attorney-in-fact should be notified in writing that their power has been revoked and they should also be asked to return any copies that they have of the Power of Attorney document to you. It is also important to send written notification to any people or businesses that may have received a copy of the document.
Massachusetts Women and Men in the Military
Make sure things are settled at home before you head out to fight for our country. Contact us at SKB Attorneys to get your POA, Power of Attorney today. Conveniently located in Hanover and Quincy, MA
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