experience a unique set of challenges that may present undue financial
hardships. These include the relocation process and unaccompanied
may cause loss of spousal jobs or service members' part-time jobs,
moving costs not covered by the military (e.g., pets), and private
or deployments of the military member might create additional
costs such as children care, special care needs, and loss of job.
members can be professionally ready for battle, but if their personal
finances are not in order, they will most likely face their distractions.
Members want to know that when they deploy, back home, their personal
side is taken care of. Before deployment, here are some tips for the
Name an executor to settle your estate in the event of your death.
If you have young children, name a guardian for them.
up a power of attorney.
This authorizes someone to conduct your business affairs on your
behalf. Make sure the person to whom you give this power is someone
you really trust.
Make sure your financial accounts designate who will take them
over if something should happen to you.
an account is in your name only,
consider adding your spouse, a trusted friend or other family
member so he or she can have access to the money to take care
of financial issues that may arise during your absence.
sure that your military pay is on direct deposit
so that the family has access to the dollars.
on insurance policies and retirement plans.
your life insurance policy
and make sure your coverage matches your family's needs. The Servicemembers'
Group Life Insurance program provides policies of up to $250,000
to those on active duty, reservists and others.
appropriate agency that relates to you: