Importance of Maintaining Valid Identification

Financial institutions now have more stringent identification requirements as a result of the Patriot Act. You may have difficulties processing your own financial transactions at banks, brokerage firms and other financial institutions if you do not have valid picture government identification, such as a state driver license or US passport.  This could be even more problematic should you become disabled.  Your attorney-in-fact, the person you have appointed in your power of attorney to act on your behalf, may have difficulty or be unable to process some financial transactions on your behalf if you do not have valid government picture identification, at a time when you may not be physically able to apply in person for government picture identification.  Most first time, and certain expired, government identification applications such as New York State driver licenses, New York State non-driver identifications, and US passports require that you to apply in person.