When preparing for deployment, you’re trained to be physically ready, mentally prepared, and equipped with everything you need to accomplish the mission. But, it's important to prepare financially, as well. This means establishing a Power of Attorney (POA). A POA is one of the most important steps you can take to protect your assets, your family, and your peace of mind before you leave.

 

What Is a Power of Attorney?

A Power of Attorney is a legal document that grants someone you trust (called your “agent” or “attorney-in-fact”) the authority to act on your behalf in certain situations. This can range from managing your bank accounts to handling property, taxes, business interests, or even family care decisions. A POA can be broad or limited, depending on your specific needs.

 

Why It Matters Before Deployment

When you deploy, communication and accessibility can be limited. If something comes up back home, you may not be able to respond quickly, or at all. Without a POA, simple issues can become major problems.

Here are some situations where a POA can save time, money, and stress:

 

✅ Bills and Financial Accounts:  If a bank or lender won’t speak to your spouse or family member without your authorization, accounts can go unpaid or become delinquent. A POA prevents that.

✅ Real Estate or Housing Matters: Need to sign a lease renewal, sell a home, or manage a rental property? Your agent can handle it legally.

✅ Military Benefits & Pay:  If there are pay issues, bonuses, allotments, or DEERS updates while you’re deployed, your agent can take care of them.

✅ Tax Filing: Missing a tax deadline can lead to penalties. With a POA, your designated agent can file on your behalf.

✅ Vehicle & Insurance Issues:  From DMV renewals to insurance claims or new registrations, these tasks are difficult to handle from overseas without a POA.

 

Types of Power of Attorney for Service Members:

There are 3 main POA options to consider before deployment:

• General POA: Best for broad financial and legal responsibilities. 
• Special/Limited POA: Best for specific tasks like selling a car or accessing an account.
• Durable POA: Best for long-term authority even if you become incapacitated.

 

Military legal offices often provide POA services for free, but they won’t help you decide what type of POA you actually need or how it affects your financial plan, that’s where professional guidance matters.

 

Common Mistakes to Avoid

❌ Choosing someone without discussing expectations

❌ Not setting clear start/end dates for the POA

❌ Forgetting to notify banks or agencies in advance

❌ Using a POA without considering your overall financial strategy

❌ Failing to include estate planning basics like a will or beneficiary review

 

Final Thoughts

A Power of Attorney isn’t just a legal form, it’s a critical part of deployment readiness. It ensures your life at home continues smoothly while you’re focused on the mission. Don’t leave your finances (or your family) unprotected.

 

How Walters Financial Wellness Can Help

At Walters Financial Wellness, we specialize in financial counseling for military members and their families. Before deployment, we can help you:

• Understand which type of Power of Attorney is right for your situation
• Review and plan updates  to insurance, beneficiaries, and emergency accounts
• Create a deployment budget and automatic payment plan
• Prepare your spouse or family with a financial readiness checklist
• Connect you with trusted legal resources for document preparation

Deploy with confidence, let us help you protect what matters most. Reach out today to schedule a pre-deployment financial readiness session!