What’s the difference between executor and power of attorney?

What’s the difference between executor and power of attorney?

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Madison
Assistant at Parklin Law

When we think of making plans for our deaths, most of us don’t want to think about it at all. But if you have a family that depends on your income, it’s important to make sure there are provisions in place so they can keep living comfortably when you’re gone.

The terms executor and power of attorney are often used interchangeably, but they're actually two different roles in estate planning.

An executor is a person or organization appointed by a will to take care of the deceased's business affairs. They're usually in charge of selling the deceased's property, paying his debts, and so on. The executor is also responsible for submitting any inheritance taxes due to the state.

In addition, an executor is someone who's legally appointed to oversee the transfer of a person's property after their death—think probate, will disputes, and all the paperwork that goes along with it.

A power of attorney is someone who's authorized to act on another person's behalf while they're alive. Unlike with an executor, a power of attorney is usually only appointed for a specific purpose, like handling financial matters or making medical decisions.

A power of attorney gives one person authority to manage another person’s legal and financial affairs. In this capacity, the agent may:

  • Write checks on behalf of the principal
  • Handle financial transactions such as stocks and bonds
  • Manage real estate and other property
  • Talk with banks about loans for their principal
  • Sign legal documents on their principal’s behalf

If you have any questions or in need a Will and Power of Attorney Lawyer, we have the Best Attorneys in Utah. Please call this law firm for free consultation.

We help you with Estate Planning, Wills, Trusts, Power of Attorney, Health Care Directive, Estate Administration, Probate and More

Parklin Law - Estate Planning

5772 W 8030 S, # N206

West Jordan UT 84081

(801) 618-0699

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Parklin Law
Estate Planning Attorney in West Jordan
https://parkin-law.business.site/

40.605070, -112.027530

Disclaimer: This is not legal advice and is simply an answer to a question and that if legal advice is sought to contact a licensed attorney in the appropriate jurisdiction.

Location: Draper, UT, USA

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