Q: OK I am the executor of my parent's trust. The power of attorney form cites 4400-4465.
My parents signed to each other and placed into the trust.
As Executor do I assume the role of Third Party in power of attorney?
the Bank just told me No. ??
A:
As the executor of your parent's trust, you generally do not assume the role of third party in power of attorney. The power of attorney document is a separate legal document that designates an agent to act on behalf of the principal, who is the person who executed the document.
As the executor, your role is to administer the trust in accordance with its terms and in compliance with applicable laws. Your authority comes from the trust itself and not from any power of attorney document that your parents may have executed.
However, if the power of attorney document gives the agent authority over the trust or its assets, then the agent would have some control over the trust assets. In that case, you may need to work with the agent to ensure that the trust is administered properly and in accordance with the terms of the trust.
It's important to consult with an attorney who is familiar with California trust and estate law to fully understand your rights and responsibilities as executor of the trust.
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