In this Tuesday Triage episode, Jill unpacks a common source of frustration for families: why a power of attorney works for some accounts but fails when it comes to trust assets. Using listener Lindsey’s real-life question, Jill explains the crucial distinction between acting as an agent under a power of attorney and serving as trustee. You’ll learn how banks view these documents, why powers of attorney don’t apply to trust accounts, and what you can do to avoid roadblocks when helping aging parents.

What Jill discussed:

• Lindsey’s story: Why her father’s power of attorney worked at the bank for checking and savings accounts, but not for trust accounts.
• The basics of a financial power of attorney: What authority it gives, and its limits.
• Why banks sometimes hesitate: Knowledge gaps, fear of liability, and extra review layers.
• Tips to smooth the process: Submitting powers of attorney before capacity is lost, and consolidating accounts at cooperative institutions.
• The bigger picture: A power of attorney covers personal assets; trust assets follow the trust agreement.

Resources & Links:

• Episode 17: How Powers of Attorney Work, When to Use Them, and When It’s Too Late to Get One
• Episode 19: Why You Need (or Don’t Need) a Trust
• Parent Prep Plan – Hands-on support to help your parents start (and finish) their estate planning 

Connect with Jill:

• Website: DeathReadiness.com
• Email: [email protected]
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• Submit a question for Tuesday Triage

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This podcast provides estate planning guidance for women and discusses real, practical issues, from caregiving, pre-planning a funeral, how to avoid probate using beneficiary designations, planning for individuals with special needs (and special needs trusts), whether you need a professional fiduciary (trustee or executor), how the estate tax works and how to preserve your legacy.

Tuesday Triage episodes answer questions from listeners like you, from powers of attorney, healthcare advance directives (and whether they work when you’re pregnant), what a Last Will and Testament really is, whether you need a trust, how Medicaid works and how to have senior and elder care conversations and how to care for aging parents.

Disclaimer: This podcast and all related content are for educational purposes only and do not constitute legal advice. No attorney-client relationship is established here. Use of this information without careful analysis and review by your attorney, CPA, and/or financial advisor may cause serious adverse consequences. For legal guidance tailored to your unique situation, consult with a licensed attorney in your state.