Doesn’t my Durable Power of Attorney authorize someone to manage my affairs just like a Revocable Trust?
Not really. In real life, financial institutions tend to be very reluctant to grant anyone but you access to your assets — even your authorized agent who presents a signed Durable Power of Attorney. A Revocable Living Trust designating the powers you grant to your agent (by itself, or backed up with a Durable Power of Attorney) is a far more powerful legal tool than a durable power of attorney alone.
