Legal Question in Wills and Trusts in Massachusetts

Re: power of attourny/ executor

A power of attorney is a document which authorizes a person to manage another person's financial affairs during their lifetime. It can be limited in the powers granted and in duration, or a "durable" power which lasts a lifetime. The document expires either when an specified event occurs or at death, whichever comes first.

The executor manages the estate of a decedent who leaves a will. The executor does not have any official power to act until the will has been admitted to probate and the executor has been appointed by the court.

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Re: power of attourny/ executor

Power of Attorney gives the Person having the POA the ability to handle affairs while the person granting the POA is alive. A durable POwer of Attorney comes into effect when a person is no longer able to handle affairs for themselves.

An Executor handles the estate of a person after they have died in Probate and under a Will.

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Re: power of attourny/ executor

Both are "fiduciaries," or persons holding a position of trust on behalf of the person who chose them ("principal" in the case of the Power of Attorney, and "testator" or person who made the will in the case of the Executor). The power of attorney serves while the person is alive (only!), and the Executor serves once the testator is dead.

Both are held to high standards of acting on behalf of the principal and or beneficiaries of the testator's will. Typically, the person holding a power of attorney will attend to the financial affairs of the principal, while the executor, once appointed by the court after having been named in the will, will carry out the terms of the will and administers the estate of the testator after death. This includes paying bills (just like the holder of the power of attorney), having tax returns prepared (same), etcetera. Both can obtain assistance from professionals such as attorneys or accountants for guidance if they have questions. Both are answerable to the court if they misuse their position.

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