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-   -   Some PoA questions (http://www.navydep.com/forums/showthread.php?t=6772)

cthornton1126 07-01-2015 01:01 PM

Some PoA questions
 
I'm leaving to RTC in December and I have some questions about Power of attorney and paying bills while you are there. I'm 20 years old, and single so I don't have a spouse that can handle it while I'm in basic. The person I trust to handle my income while I can't would be my older sister. I also have a question about the life insurance (worse case scenario) I would like it to go into a college fund or savings account for my two younger adopted siblings. Is that possible? Do I need to see a lawyer to set this up? Thank you in advance!

CTT1(SW)Griffin 07-01-2015 03:51 PM

Quote:

Originally Posted by cthornton1126 (Post 54605)
I'm leaving to RTC in December and I have some questions about Power of attorney and paying bills while you are there. I'm 20 years old, and single so I don't have a spouse that can handle it while I'm in basic. The person I trust to handle my income while I can't would be my older sister. I also have a question about the life insurance (worse case scenario) I would like it to go into a college fund or savings account for my two younger adopted siblings. Is that possible? Do I need to see a lawyer to set this up? Thank you in advance!

If you want your sister to have PoA, then that's between you guys. Typically you can talk to the folks you pay bills to and they might give you a break while you're at boot (not being married and all). You can do this with deployment as well (like stopping car payments, storage fees, ect).

For the SGLI, I'm not sure how exactly it's dispersed if something happens. More than likely your family will get a check or checks in the amount listed (typically $400,000). So it would be up to them on what to do with the money. You'll have to put a name down on who you want to receive the money as well.

/r
CTT1

cthornton1126 07-26-2015 07:18 PM

Is it possible to regulate the money like, x amount for funeral costs then the test go to siblings for college fund? Will my PoA do that

FutureND 07-26-2015 08:52 PM

That is handled by creating a will. You will be able to have legal assist you in creating one for free once you get to your first command, possibly a school.

cthornton1126 07-26-2015 09:54 PM

Quote:

Originally Posted by FutureND (Post 55211)
That is handled by creating a will. You will be able to have legal assist you in creating one for free once you get to your first command, possibly a school.

Ah, make sense thank you. So I should wait until then, and not take care of it before hand?


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