Power of Attorney vs Trustee: Key Differences Explained!

Christopher Small from CMS Law Firm explains the nuanced roles of a power of attorney and trustee within a revocable trust framework. Estate planning can seem complex, especially when managing assets during challenging times. In this video, Christopher shares insights from a recent client discussion about navigating these roles amid an Alzheimer's diagnosis.

Power of attorney and trustees share similar responsibilities: they manage financial assets and make decisions on behalf of another. However, the distinction lies in what assets they control. A power of attorney oversees personal assets, activated immediately upon signing, while a trustee manages assets within a trust, taking effect once the trust is established.

Christopher also highlights real-life scenarios where these roles intersect and how these interactions affect asset management while the trust creator is alive. Understanding these differences is crucial to effective estate planning.

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