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The USAA Power of Attorney form is a vital tool that allows you to designate someone you trust, referred to as your Attorney-in-Fact, to manage various transactions related to your USAA accounts. This form is specifically crafted for USAA business and empowers your Attorney-in-Fact to handle matters such as accessing bank accounts, overseeing life insurance policies, and managing your auto and property dealings, just as you would. Notably, the form grants your Attorney-in-Fact the authority to sign documents on your behalf, making it essential to select someone reliable. While this Power of Attorney is durable, meaning it remains effective even if you become incapacitated, it does terminate upon your death. It's also worth mentioning that this document has limitations and does not extend to all types of accounts, such as estate or trust accounts. Before using the form, reviewing any existing powers of attorney with a legal professional is advised to ensure they meet your needs. This detailed form requires precise information about both you and your designated Attorney-in-Fact, and careful completion is crucial for its acceptance by USAA. To facilitate your understanding and ease of use, the document includes instructions on how to fill it out and where to send it once completed.

Usaa Power Of Attorney Example

9800 Fredericksburg Road

USAA POWER OF ATTORNEY

United Services Automobile Association

 

San Antonio, Texas 78288

 

Important Information. Please Read.

General. This USAA POWER OF ATTORNEY is intended to be used by you to permit another person to conduct most transactions on personal USAA accounts that you, as Grantor, could conduct yourself. For example, you may want your agent (or “Attorney-in-Fact”) to have access to your bank accounts, control over a life insurance policy you own or to take care of your auto and property transactions on your behalf. It provides your Attorney-in-Fact access to all of your business with USAA and allows USAA and its affiliated companies to treat the signature of your Attorney-in-Fact as though it were your signature. For this reason, it is important that you designate a trusted family member or friend as your Attorney-in-Fact under this document. The use of this form is limited to USAA business only and would not be considered a general power of attorney. This USAA POWER OF ATTORNEY form will be accepted by all USAA companies for most business transactions with USAA companies. You may check the specific box for each line of business to authorize your Attorney-in-Fact to transact business with USAA applicable to the designated line of business.

Other Powers of Attorneys. If you have a military power of attorney (acceptable to USAA in most cases) or a power of attorney already on file at USAA, you may want to review it with your attorney to be sure it covers your business needs and is still in effect.

Cautionary Note: Carefully read any power of attorney form before you sign it. Be sure to consult your attorney regarding its purpose and the legal rights that are affected by the grant of such power to another person. Your particular circumstances may indicate the need for granting either broader or more restrictive rights than are provided for in this form. This USAA POWER OF ATTORNEY is durable and is therefore valid and effective if you subsequently become disabled or incompetent. In the event of your death, this USAA POWER OF ATTORNEY will terminate.

LIMITATIONS ON THE USE OF THIS FORM INCLUDE:

·Checkwriting Privileges. If checkwriting privileges are needed on accounts with USAA Federal Savings Bank, separate signature cards (if applicable) will be sent to the person to whom you have granted limited powers to your account(s).

·Authority Over Other Accounts. For business accounts, trust accounts, estate accounts, guardianship or conservatorship accounts, UGMA or UTMA accounts, qualified tuition (529) plan accounts, Coverdell Education Savings Accounts or similar accounts, other documents and applicable laws may limit your ability to grant this authority to another person. In such instances, you should consult with an attorney as to the scope of your ability to grant such authority.

Online: usaa.com

Phone: 210-531-USAA (8722) — 800-531-8722

Mobile: #8722

 

 

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Instructions to Complete the Form Below:

If you decide to use this USAA POWER OF ATTORNEY form, please read the instructions below:

1.Complete the Identification Form and the USAA POWER OF ATTORNEY form.

2.All required and applicable blanks must be filled in. If not, the USAA POWER OF ATTORNEY cannot be established until the information is provided. Your Attorney-in-Fact agrees to provide any additional information that USAA requires to be considered as a power of attorney on your behalf. If not applicable, mark N/A.

3.Your signature must be acknowledged before either a notary public or a person authorized under 10 USC § 1044a to perform a notarial act for members of the armed services.

4.If you do not include a termination date, it will be presumed to be in effect until either your death or a written or oral revocation is received by USAA.

5.You have the option of appointing an alternate attorney-in-fact to represent you in case your first appointee dies or is unwilling to serve. Written notification will be required to appoint the alternate attorney-in-fact. All required identifying information must be provided for the alternate Attorney-in-Fact as well as the primary.

6.If the Attorney-in-Fact does not provide the required information, the account may be locked or closed.

It is important that you return the completed USAA POWER OF ATTORNEY form and the Identification Form by sending it to USAA, Power of Attorney Processing, P.O. Box 659464, San Antonio, TX 78265 or faxing the printed form to 800-531-8877. If you have any questions on how to complete this form, please contact your attorney or military legal office.

Online: usaa.com

Phone: 210-531-USAA (8722) — 800-531-8722

Mobile: #8722

 

 

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Provide Your USAA Number

Identification Form for You and Your Attorney-in-Fact

IMPORTANT INFORMATION. Information about others associated with your membership, such as name, contact information, date of birth, occupation and military service, is collected on behalf of each of the USAA companies, and will be used for business purposes, including identification, verification of eligibility, and to market their products and services.

The following information is required so we can verify your Attorney-in-Fact and establish your Power of Attorney:

Your (Grantor) Information

Your Name:

First

MI

Last

 

 

 

 

 

 

USAA Number

 

Social Security Number

Date of Birth (mm/dd/yy)

Your Attorney-in-Fact Information

 

 

 

 

 

 

 

 

 

Name:

First

MI

Last

 

 

 

 

USAA Number (if applicable)

Social Security Number

Date of Birth (mm/dd/yy)

 

 

 

Relationship to member (e.g., parent, spouse, child or friend)

Telephone Number

 

 

 

 

 

Physical Address (P.O. Box cannot be accepted)

City

State

Zip Code

 

 

 

 

Mailing Address (if different)

City

State

Zip Code

 

 

 

 

Employer's Name

 

Occupation/Type of Business

 

 

 

 

 

 

Employer's Address

 

City

State

Zip Code

Is your Attorney-in-Fact a senior political figure or family member or associate of a senior foreign political figure? o1Yes o1No

Is your attorney-in-fact a U.S. citizen?

o1Yes o1No

 

If no, please specify country of citizenship __________________________ AND provide one or more of the

following valid numbers:

 

 

 

 

U.S. Alien Identification Card Number

Passport Number Issued by Country of Citizenship

Resident Status: o1Resident Alien o1Non-resident Alien

 

Online: usaa.com

Phone: 210-531-USAA (8722) — 800-531-8722

Mobile: #8722

 

 

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Provide Your USAA Number

Successor Attorney-in-Fact Information (if applicable)

Name:

First

MI

Last

 

 

 

 

USAA Number (if applicable)

Social Security Number

Date of Birth (mm/dd/yy)

 

 

 

Relationship to member (e.g., parent, spouse, child or friend)

Telephone Number

 

 

 

 

 

Physical Address (P.O. Box cannot be accepted)

City

State

Zip Code

 

 

 

 

Mailing Address (if different)

City

State

Zip Code

 

 

 

 

Employer's Name

 

Occupation/Type of Business

 

 

 

 

 

 

Employer's Address

 

City

State

Zip Code

Is your Attorney-in-Fact a senior political figure or family member or associate of a senior foreign political figure? o1Yes o1No

Is your attorney-in-fact a U.S. citizen? o1Yes o1No

If no, please specify country of citizenship __________________________ AND provide one or more of the

following valid numbers:

U.S. Alien Identification Card NumberPassport Number Issued by Country of Citizenship

Resident Status: o1Resident Alien o1Non-resident Alien

Online: usaa.com

Phone: 210-531-USAA (8722) — 800-531-8722

Mobile: #8722

 

 

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Provide Your USAA Number

USAA POWER OF ATTORNEY

I,__________________________________________ ("Grantor"), presently stationed or residing at

_____________________________________________________________________(Address) desiring to

execute this USAA POWER OF ATTORNEY, do hereby appoint ____________________

________________________________________________________ (Name of Attorney-in-Fact), whose address

is _______________________________________________________________, as my Attorney-in-Fact. If my

Attorney-in-Fact is no longer able to or is unwilling to serve as my legal representative, then I appoint

__________________________________________________ (Name of Successor Attorney-in-Fact), whose

address is ____________________________________________________________________, to serve as my

Successor Attorney-in-Fact instead of the first named person. I intend for my Attorney-in-Fact to act for me and, in my name, to do all acts whatsoever concerning my property, accounts, policies and business relationships maintained, issued, managed, administered or held by United Services Automobile Association, or any of its subsidiaries or affiliates (collectively “USAA”) necessary and advisable in the judgment of my Attorney-in-Fact and as permitted by law, as fully as I could do if personally present and acting, including but not limited to:

oALL THE POWERS LISTED BELOW. (By checking this box, ALL powers below apply. If this box is checked, do not check any other box below.)

OR

oCheck the specific authorized powers for each designated USAA line of business for which you want to grant powers.

oBANKING TRANSACTIONS

a)To deposit or withdraw for any purpose, in or from any bank or other financial institution, any funds, checks, or other credits which I now or hereafter may have on deposit or be entitled to, and to endorse, cash and receive the proceeds of any and all checks, vouchers, or other orders for money, to open or close accounts, and to receive statements, vouchers, notices or other documents from any bank or other financial institution concerning any and all accounts or banking transactions in my name or in which I may have an interest;

b)To have access for all purposes to any or all safety deposit boxes or vaults rented in my name or in the names of any other person or persons and myself, with full power to use the same for safekeeping any property or papers, and to remove there from any time, or from time to time, all or any part of the contents of any such box or vault;

c)To borrow money at an interest rate agreeable to my Attorney-in-Fact and pledge as security real or personal property of the principal necessary to borrow, pay, renew, or extend the time of payment of any of my debts;

d)To receive bank statements, vouchers, notices, or similar documents from a financial institution and act with respect to them; and

e)To continue, modify, or terminate an account or other banking arrangement made by me or on my behalf, including but not limited to changing automatic payment plan instructions for any loan payment or deposits.

Online: usaa.com

Phone: 210-531-USAA (8722) — 800-531-8722

Mobile: #8722

 

 

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Provide Your USAA Number

oINSURANCE TRANSACTIONS

(a)To pay the premiums, terminate any property or casualty policies or execute rights on an annuity or any contract of insurance presently owned by me or hereafter acquired;

(b)To procure (subject to underwriting requirements) different or additional annuities or contracts of insurance on my life or with respect to protecting me or my property from ill health, disability, accident, liability or loss;

(c)To exercise any election or conversion rights, and to demand, receive or obtain any money, dividend, or other thing of value to which I am or may become entitled as the proceeds or other return or profit arising out of any contract of insurance or of any one or more of the insurance transactions herein enumerated;

(d)To establish or change policy and billing addresses, although my Attorney-in-Fact does not receive the power to change ownership or make a gift of the annuity or contract of insurance;

(e)To establish or change beneficiary designations applicable to any life insurance policy or annuity contract that I own;

(f)To receive all notices normally provided to the owner or named insured of any contract;

(g)To apply for, receive delivery of, or amend any property and casualty insurance contract;

(h)To execute documents accepting or rejecting insurance coverages;

(i)To do all things necessary to the settlement of a claim, including but not limited to, the execution of releases, receipt of insurance proceeds, authorization of repairs to insured property, or execution of any documents necessary to transfer my interest in vehicles insured by USAA to effect loan payoff and salvage titling in the event that USAA determines that any such vehicle is a total loss or total theft;

(j)To vote or designate a proxy to vote in matters placed before the members of USAA; and

(k)To execute subscriber agreements containing limited powers of attorney to effectuate the procurement of insurance policies to be provided by United Services Automobile Association.

GENERAL PROVISIONS APPLICABLE TO ALL SECTIONS

(a)All business transacted pursuant to this USAA POWER OF ATTORNEY for me or for my account shall be transacted in my name, and all endorsements and instruments executed by my Attorney-in-Fact for the purpose of carrying out any of the foregoing powers, shall contain my name, followed by that of my Attorney-in-Fact and the designation, “Attorney-in-Fact.” This includes, without limitation, the authority to sign up for (or suspend or cancel) electronic delivery of information, statements, confirmations, prospectuses, proxies, reports, bills, notices, disclosures, agreement forms, correspondence or other documents related to my USAA accounts and products, as well as electronic web bill pay.

(b)I hereby ratify and confirm any and all instructions, transactions, trades, dealings, or other lawful acts done or caused to be done by my Attorney-in-Fact pursuant to this USAA POWER OF ATTORNEY.

Online: usaa.com

Phone: 210-531-USAA (8722) — 800-531-8722

Mobile: #8722

 

 

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Provide Your USAA Number

(c)This USAA POWER OF ATTORNEY is durable and is not affected by my subsequent disability or incapacity.

(d)If the authority contained herein shall be revoked, or terminated by operation of law, without notice, I hereby agree for myself, my executors, administrators, heirs and assigns, in consideration of my Attorney- in-Fact’s willingness to act pursuant to this USAA POWER OF ATTORNEY, to indemnify, save and hold my Attorney-in-Fact harmless from any loss suffered or any liability incurred by my Attorney-in-Fact in so acting after such revocation or termination without notice. Also, I hereby agree for myself, my executors, administrators, heirs and assigns, in consideration of USAA following the instructions or directions of my Attorney-in-Fact to indemnify USAA, its officers, directors, trustees, employees, agents, successors, heirs and assigns and hold each of them harmless from any and all liability, losses, related claims and costs, including attorney's fees, which may arise out of, in connection with, or Related to any and all instructions, directions, transactions, trades, dealings, or other acts done or caused to be done by my Attorney-in-Fact (or USAA’s justified refusal to follow such instructions). Revocation of this USAA POWER OF ATTORNEY is not effective until USAA receives notice of the revocation as specified in this document.

(e)Notwithstanding my insertion of a specif expiration date herein, if on the specified expiration date below I shall be, or have been, carried in a military status of “missing”, “missing-in-action” or “prisoner of war”, then this USAA POWER OF ATTORNEY shall automatically remain valid and in full effect until sixty (60) days after I have returned to United States military control following termination of such status.

TERMINATION

Expiration Date (Optional): ____________________. (No date indicates the document remains effective until

written or oral revocation is received by USAA). Unless sooner revoked or terminated by me by written notice addressed to USAA, 9800 Fredericksburg Road, San Antonio, Texas 78288, or by oral notice to a USAA member service representative, this USAA POWER OF ATTORNEY shall become NULL and VOID from and after the expiration date. Upon termination or revocation, I agree to change and/or reestablish my password and PIN for access to the usaa.com website, mobile.usaa.com and any other communication channel with USAA.

IN WITNESS WHEREOF, I have set my hand this ___________ day of _____________, 20______

Grantor's Signature

TO BE VALID, YOU (THE PERSON GRANTING THESE POWERS) MUST SIGN THIS FORM AS GRANTOR IN THE PRESENCE OF EITHER (1) A NOTARY PUBLIC OR (2) A PERSON AUTHORIZED BY 10 USC § 1044A TO PERFORM A NOTARIAL ACT FOR MEMBERS OF THE ARMED FORCES. FILL OUT ONLY ONE SECTION BELOW.

(1) CIVILIAN ACKNOWLEDGMENT

State Of(County/City/Parish

I,______________________________ A Notary Public in and for the State aforesaid, do hereby

certify that on the _______________ day of _____________, 20 _____, before me personally appeared

_________________________________________________ (GRANTOR), who signed and executed the

foregoing USAA POWER OF ATTORNEY. IN WITNESS WHEREOF, I have hereunto set my hand and official seal this day and year above.

Notary Public

My Commission Expires

OR

Online: usaa.com

Phone: 210-531-USAA (8722) — 800-531-8722

Mobile: #8722

 

 

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Provide Your USAA Number

(2) MILITARY ACKNOWLEDGMENT

IF ACKNOWLEDGED BEFORE A PERSON AUTHORIZED TO PERFORM NOTARIAL ACTS FOR MEMBERS OF THE ARMED FORCES by 10 USC § 1044a:

With the United States Armed Forces at: _______________________________________

I,__________________________________ the undersigned do hereby certify that on this

_______________ day of ________________, 20 _____ , before me, personally appeared

_____________________________________________________(GRANTOR), who signed and executed

the foregoing USAA POWER OF ATTORNEY. I do further certify that I am at the date of this certificate authorized under 10 USC § 1044a to perform notarial acts for members of the armed forces, and that by statute no seal is required on this certificate.

(ORGANIZATION AND STATION)

Signature of Person Authorized to Perform Notarial Acts (Name, Grade, Armed Force)

THE ATTORNEY-IN-FACT, BY ACCEPTING OR ACTING UNDER THE APPOINTMENT, ASSUMES THE FIDUCIARY AND OTHER LEGAL RESPONSIBILITIES OF AN AGENT.

Online: usaa.com

Phone: 210-531-USAA (8722) — 800-531-8722

Mobile: #8722

 

 

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Form Characteristics

Fact Name Description
Purpose of the Form This form allows a person (Agent or Attorney-in-Fact) to manage USAA accounts on behalf of the Grantor.
Durability The power of attorney remains valid even if the Grantor becomes disabled or incompetent, but it terminates upon the Grantor's death.
Limited Scope This document specifically applies to transactions with USAA and does not serve as a general power of attorney.
Notarization Requirement The signature of the Grantor must be notarized or acknowledged by an authorized person under military law.
Potential Restrictions
Authorization of Specific Transactions Grantors can specify which types of transactions their Attorney-in-Fact is authorized to perform by checking designated boxes.
Contact Information For questions, individuals can reach USAA at 210-531-USAA (8722) or online at usaa.com.

Guidelines on Utilizing Usaa Power Of Attorney

After gathering all necessary information, filling out the USAA Power of Attorney form is a systematic process. This form allows you to designate someone you trust to manage various aspects of your relationship with USAA. Following these steps will ensure that you are providing the correct information and that everything is completed properly.

  1. Start by obtaining the USAA Power of Attorney form from the USAA website or any USAA branch.
  2. Fill out the Identification Form completely for yourself as the Grantor and for the person you are appointing as your Attorney-in-Fact. Ensure to include all necessary details such as names, USAA numbers, Social Security numbers, dates of birth, and contact information.
  3. Provide information for a successor Attorney-in-Fact if you wish to have one. Be sure to fill out all required information for both Attorney-in-Fact and successor.
  4. Clearly designate the powers you wish to grant. You can select all powers by checking the box or choose specific powers relevant to USAA lines of business.
  5. Sign the form in an area where your signature can be verified. This signature must be acknowledged either before a notary public or a qualified notarial officer for military personnel.
  6. Decide whether to include a termination date for the Power of Attorney. If no date is included, it will remain effective until your death or a formal revocation.
  7. Submit the completed form and the Identification Form to USAA by mailing it to Power of Attorney Processing, P.O. Box 659464, San Antonio, TX 78265, or by faxing it to 800-531-8877.

It’s essential to double-check all entries for accuracy before you send in the completed documents to avoid delays. If there are any uncertainties while filling out the form or about the implications of designating someone as your Attorney-in-Fact, consult with a legal professional for guidance.

What You Should Know About This Form

What is a USAA Power of Attorney form?

The USAA Power of Attorney form is a legal document that allows you, as the Grantor, to appoint another person, known as your Attorney-in-Fact, to conduct various transactions on your behalf with USAA. This includes transactions related to bank accounts, life insurance policies, and auto or property transactions. It designates your Attorney-in-Fact to act as if they were you in all dealings with USAA, giving them the authority to sign documents and make decisions on your behalf.

Who can I appoint as my Attorney-in-Fact?

You can appoint a trusted family member or friend as your Attorney-in-Fact. It is crucial to choose someone you trust since this individual will have significant authority over your financial matters. They should understand your wishes and be capable of managing your affairs responsibly.

Can I specify the powers granted to my Attorney-in-Fact?

Yes, the form allows you to specify the powers you wish to grant. You can either select all powers collectively or check specific boxes to limit the authority of your Attorney-in-Fact to designated lines of business. This flexibility ensures that you can tailor the powers to suit your individual needs.

What happens if I do not include a termination date on the form?

If you do not include a termination date, the Power of Attorney will remain in effect until your death or until USAA receives a written or verbal revocation of the authority. It is important to consider how long you want this authority to last when filling out the form.

Is this Power of Attorney form durable?

Yes, this USAA Power of Attorney is durable, meaning it remains valid even if you become disabled or incompetent. However, the authority granted will terminate upon your death, at which point it will no longer be valid.

Are there limitations to what my Attorney-in-Fact can do?

Yes, while your Attorney-in-Fact has significant powers, there are specific limitations. For example, if you have other types of accounts, such as business or trust accounts, different laws may apply, and it may not be permissible to assign these powers using the USAA form. Always consider consulting an attorney for personalized advice regarding your specific situation.

Will my Attorney-in-Fact need to provide additional information?

Your Attorney-in-Fact will need to provide certain identifying information for verification purposes. If they do not provide this information, USAA may lock or close your account. It's essential to ensure that all information requested in the form is accurately completed.

How do I submit the completed Power of Attorney form?

You can submit the completed USAA Power of Attorney form by mailing it to USAA’s Power of Attorney Processing at P.O. Box 659464, San Antonio, TX 78265. Alternatively, you can fax the completed form to 800-531-8877. Make sure you send the form promptly to avoid any delays in activating the power of attorney.

Can I appoint a secondary Attorney-in-Fact?

Yes, you have the option to designate a Successor Attorney-in-Fact to serve in case your primary appointee is unwilling or unable to fulfill their role. It’s essential to provide all required information for this individual, just as you would for your primary Attorney-in-Fact.

What should I do if I have a military power of attorney already on file?

If you already have a military power of attorney that is acceptable to USAA or one on file, it is wise to review it to ensure that it meets your current business needs. You may want to consult with your attorney to determine if any adjustments are necessary to cover all your affairs adequately.

Common mistakes

Filling out the USAA Power of Attorney form can seem straightforward, but there are common mistakes that people often make, which can have significant repercussions. One frequent error is failing to fill out all required sections completely. Every blank must be filled in; if any sections are missing, the form could be rejected, delaying important transactions. To avoid this issue, make sure to double-check each section before submitting.

Another mistake lies in neglecting to specify a termination date. If you don’t include a termination date on the form, it will automatically remain in effect until your death or you revoke it in writing. Some individuals mistakenly believe that the form will expire after a certain period. This misunderstanding could lead to unintended consequences, so take the time to determine if a termination date is appropriate for your situation.

People also overlook the importance of having their signature properly acknowledged. Your signature must be witnessed by a notary public or another authorized entity. Skipping this step can render the form invalid, making it impossible for your Attorney-in-Fact to act on your behalf. To ensure that everything is in order, schedule an appointment with a notary as soon as your form is completed.

Choosing an attorney-in-fact is another decision that can lead to mistakes. Some individuals appoint someone without fully considering their trustworthiness or capability. Remember, this person will have access to sensitive financial information and the authority to make decisions on your behalf. Spend time evaluating potential candidates and ensure that you choose someone who you can rely on completely.

Additionally, there may be confusion surrounding the identification requirements for both the Grantor and the Attorney-in-Fact. Each individual must provide specific personal information, such as social security numbers and dates of birth. Failure to provide this information can lead to delays or rejection of the form. It is crucial to gather all necessary details ahead of time to avoid any complications.

Some people mistakenly overlook the need to consider alternative options. Appointing a successor Attorney-in-Fact is advisable in case your primary choice becomes unable or unwilling to serve. Not including a successor can leave you without representation during crucial times, so take a moment to think about who should take over if necessary.

Lastly, individuals may mistakenly submit the form to the wrong location. Ensure that you send the completed Power of Attorney form along with the Identification Form to the correct address: USAA, Power of Attorney Processing, P.O. Box 659464, San Antonio, TX 78265. Sending it elsewhere may lead to delays or loss of your application. Always double-check that you have the right submission address before mailing your forms.

Documents used along the form

The USAA Power of Attorney form allows an individual to designate a trusted person to manage their financial affairs with USAA. In conjunction with this form, several other documents may be relevant for various legal and financial situations. Here is a brief overview of additional forms and documents that are commonly used alongside the Power of Attorney.

  • Durable Power of Attorney: This document creates a lasting power of attorney that remains effective even if the principal becomes incapacitated. It provides a wider range of authority than a standard power of attorney.
  • Financial Power of Attorney: Similar to the USAA Power of Attorney, this document allows an agent to manage someone's financial affairs, covering transactions not limited to USAA accounts.
  • Medical Power of Attorney: This form designates an individual to make healthcare decisions on behalf of the principal in the event they are unable to do so due to illness or incapacity.
  • Living Will: A living will outlines an individual’s wishes regarding medical treatment in circumstances where they may be unable to communicate their decisions, especially at the end of life.
  • Advance Healthcare Directive: This document combines the elements of a living will and a medical power of attorney, allowing an individual to specify their medical preferences and designate someone to make decisions.
  • Trust Documents: In cases where assets are held in a trust, specific documents outlining the terms and designations of the trust are necessary for the effective administration of the trust.
  • Identification Form: This document includes verification details for both the principal and the Attorney-in-Fact. It ensures all parties involved can be accurately identified, which is crucial for the execution of the Power of Attorney.

Understanding these associated documents can help ensure that all necessary legal frameworks are in place to protect an individual's interests both financially and medically. Each document serves a distinct purpose, and it is advisable to consult with a legal professional to determine which documents are most appropriate for your situation.

Similar forms

The USAA Power of Attorney form shares similarities with several other legal documents. Here is a list of four documents that are comparable, along with a brief explanation of how they relate:

  • General Power of Attorney: This document allows one person to act on behalf of another for a variety of legal and financial matters. Like the USAA Power of Attorney, it grants broad authority to the agent but is not limited to dealings with a specific institution like USAA.
  • Durable Power of Attorney: A durable power of attorney remains valid even if the Grantor becomes incapacitated or disabled. Similarly, the USAA Power of Attorney is durable, ensuring that the designated Attorney-in-Fact retains authority even if the Grantor can no longer make decisions.
  • Limited Power of Attorney: This document restricts the authority granted to the Attorney-in-Fact to specific tasks or situations. While the USAA Power of Attorney allows for various transactions, it is still a form of limited power of attorney because it is specific to USAA business only.
  • Military Power of Attorney: Designed for military personnel, this document grants power of attorney while they are deployed. It is generally recognized by USAA, reflecting the flexibility and special considerations required for military members, similar to the USAA Power of Attorney's tailored function for their members’ needs.

Dos and Don'ts

When completing the USAA Power of Attorney form, taking care to follow specific guidelines is crucial. Here are five important do's and don'ts:

  • Do ensure all required information is filled in completely. Missing details can halt the process.
  • Don't sign the document without proper acknowledgment. Your signature must be approved by a notary public.
  • Do appoint a trusted family member or friend as your Attorney-in-Fact. Trust is essential for this role.
  • Don't overlook the importance of reviewing previous powers of attorney you may have. Ensure they align with your current needs.
  • Do keep a copy of the completed form for your records. This helps maintain clarity about your decisions and intentions.

Misconceptions

Many people have misunderstandings about the USAA Power of Attorney form. Here are nine common misconceptions, along with clarifications:

  1. It's the same as a general power of attorney. This form is specific to USAA transactions. It cannot be used for other financial matters outside of USAA.
  2. Anyone can be my Attorney-in-Fact. It's crucial to choose a trusted individual. USAA recommends appointing a reliable family member or friend to handle your affairs.
  3. The form is effective indefinitely. If you don’t specify a termination date, it remains in effect until your death or when you revoke it in writing or orally.
  4. I don’t need to notify USAA if my Attorney-in-Fact changes. If your designated Attorney-in-Fact is no longer able or willing to serve, you must formally notify USAA to appoint a successor.
  5. My Power of Attorney allows anyone to sign checks on my behalf. Specific checkwriting privileges need to be established separately with USAA Federal Savings Bank.
  6. If I become disabled, my Attorney-in-Fact has limited power. This form is durable, meaning it remains valid even if you become disabled or incompetent.
  7. All powers automatically apply to my Attorney-in-Fact. You must specifically check the powers you wish to grant for each type of USAA business.
  8. If I have a military power of attorney, I don't need this form. While a military POA may be accepted, reviewing it with a legal professional is vital to ensure it meets your needs.
  9. My Attorney-in-Fact can manage any type of account. Certain accounts, such as trust or estate accounts, may require different documentation or legal advice for proper management.

Understanding the details of the USAA Power of Attorney form is crucial. It empowers someone you trust to assist with your personal transactions, but be aware of the limitations and requirements involved.

Key takeaways

Here are some key takeaways about filling out and using the USAA Power of Attorney form:

  • The USAA Power of Attorney allows a trusted person, known as your Attorney-in-Fact, to manage transactions on your personal USAA accounts. This includes access to bank accounts and control over insurance policies.
  • Be sure to complete all required fields in the form. An incomplete form will delay the establishment of your power of attorney, requiring additional information from your Attorney-in-Fact.
  • This document is durable, meaning it remains valid even if you become disabled or unable to manage your affairs. However, it will terminate automatically upon your death.
  • Consider designating a successor Attorney-in-Fact in case your primary choice is not able or willing to serve. This can ensure that your affairs are handled smoothly without interruption.