You're working, and you've got a family that depends on you - both now and down the road. Where do you invest your money? Do you borrow against the equity in your house? Through a preferred provider relationship with USAA, The American Legion can provide expert financial advice to just about any question.
Questions & Answers
My brother – retired military – just passed away from a fatal accident. His wife is in nursing recovering from a massive stroke. He has a Thrift Savings Plan; we need funds to pay for his wife’s care. Can I withdraw from the account as her POA? – Robert
We are extremely sorry to hear about this tragedy. The first thing you need to do on behalf of your sister-in-law is make sure the Thrift Savings Plan is informed of his passing. Since the account is in his name this is a necessary first step. His employing agency or military service will help you take care of this. If he is separated from federal service, you can contact the TSP at (877) 968-3778. There will be paperwork to complete to transfer the account to his beneficiary, which is likely your sister-in-law. Once that is complete, you should, as her power of attorney (POA), be able to access the account funds on her behalf. This link for the TSP booklet explains more regarding powers of attorney. http://www.usaid.gov/forms/TSPBooklet.pdf