A Power of Attorney (POA) is a written instrument that allows you (the "principal") to authorize your agent (your "attorney-in-fact") to conduct certain business on your behalf.  It is one of the strongest legal documents that you can give to another person. There are two types of POA; "general" and "special" (or limited).
A general POA gives your agent very broad powers to act on your behalf; and a special POA limits your agent's authority to act only on certain matters. Every act performed by your agent within the authority of the POA is legally binding upon you.  Since a POA is such a powerful document, give it only to a trustworthy person, and only when absolutely necessary.  Your local legal assistance office can advise you about, and prepare for you, the appropriate type of POA needed for your situation.

GENERAL POWER OF ATTORNEY
A General POA gives your agent the authority to do most things you could do yourself.  Your agent cannot perform certain actions which require your personal attention, such as taking an oath. General POA'S may not be accepted for the performance of certain acts, such as cashing Government checks, or conducting real estate transactions.

SPECIAL (LIMITED) POWER OF ATTORNEY
A special, or limited, POA authorizes your agent to do only a specified act, such as sell your car, ship your household goods, or cash your paycheck. A "special" or "limited" power of attorney can accomplish almost any need:  access to a particular bank account; closing on a house; medical care for your children; or movement of your household goods. The special or limited power of attorney, as its name implies, restricts the other individual's action to a particular purpose which you have chosen; this is much safer than giving a general power of attorney, which grants another individual almost complete legal power over your personal and financial affairs. 

SPECIAL POWER OF ATTORNEY TO ACT "IN LOCO PARENTIS"
This is a common type of special power of attorney. The phrase "in loco parentis" means "in the place of the parent." This type of special POA grants parental authority to another (such as a babysitter) to perform a range of functions which can include picking up a child from school, buying food and clothing, and consenting to medical treatment of the child in the event of illness or injury.

SPECIAL CONSIDERATIONS
1. A POA becomes void upon the death of the principal.
2. A POA normally is void if the principal becomes physically or mentally incapacitated. However, appropriate "durability" language may be added to the POA which will ensure that it remains valid during any period of incapacity.
3. Any third party has the right to refuse to accept a POA.
4. A POA should be given for only a limited time period (such as six months during a deployment). A third party is more likely to accept a POA with a recent date than one which is many months or years old.
5. Many financial institutions and other businesses have their own POA'S which they prefer to be used to conduct business. It is a good idea to show your POA to all known third parties who may be dealing with your named attorney-in-fact to ensure that your POA is acceptable to them.
6. Never give a general POA when a special POA will accomplish the mission. There is less opportunity for abuse when only limited powers are given.
7. A special POA should be as specific as possible. For example, if you are authorizing an attorney-in-fact to sell a vehicle on your behalf, specify the vehicle, license number, vehicle identification number, the make/model/year of the vehicle, and any specific terms you will require. Your legal assistance attorney can help you tailor the POA to suit your precise needs.
8. You may revoke a POA before its expiration date by executing a revocation of the POA. Notice of the revocation must be delivered to the attorney-in-fact, as well as to all third parties who you know relied on the POA. If possible, recover from the attorney-in-fact and destroy the original and all copies of the POA. Even though the POA has been revoked, you may be responsible to any third party who did not receive notice of the revocation.
Army Legal Assistance staff will prepare a general or special POA based on your needs. Here is a description of the normal types of special powers:

More on Powers of Attorney or download a fillable POA to take with you to legal services

Will - A will is a legal document you use to dispose of your property at your death. It may also name people to do important jobs, such as administrator of your estate or guardians for your children.  Learn more about wills or download an Estate Planning  Questionnaire to assist you.  Your JAG office will prepare a will for you free of charge.  Both the Servicemember and his/her spouse are entitled to this service.

Life insurance is an important tool for providing financial security for your family members. Through life insurance, you can create an immediate estate of sufficient size to assure adequate income for your family members upon your death. In determining your life insurance needs, consider the desired monthly income you would like your survivors to have, as well as the various military benefits available for military survivors, including the Survivor Benefit Plan and Social Security.
Service members contemplating the purchase of commercial insurance should look closely to determine whether the policy has a "war clause." Such clauses typically allow insurance companies to avoid payment on a contract of insurance if the service member is killed in war or by a "military service hazard."  More -

Servicemembers Group Life Insurance (SGLI) is a program of low cost group life insurance for Servicemembers on active duty, Ready Reserve Soldiers, members of the Commissioned Corps of the National Oceanic and Atmospheric Administration and the Public Health Service, cadets and midshipmen of the four service academies, and members of the Reserve Officer Training Corps. SGLI coverage is available in $50,000 increments up to the maximum of $400,000. SGLI premiums are currently $.065 per $1,000 of insurance, regardless of the member's age. Follow this link to view a table of SGLI premium rates at different coverage levels. Servicemembers with SGLI coverage have two options available to them upon release from service. They can convert their full-time SGLI coverage to term insurance under the Veterans' Group Life Insurance program or convert to a permanent plan of insurance with one of the participating commercial insurance companies.  More on SGLI

Family Servicemembers' Group Life Insurance (FSGLI) is a program extended to the spouses and dependent children of members insured under the SGLI program. FSGLI provides up to a maximum of $100,000 of insurance coverage for spouses, not to exceed the amount of SGLI the insured member has in force, and $10,000 for dependent children. Spousal coverage is issued in increments of $10,000.  More on FSGLI