Why is a revocable living trust sometimes better than a power of attorney?
A. The trustee of a trust has legal title to the trust’s assets and therefore third parties must deal with the trustee as the owner, even if the trustee is not the trust creator. An agent under a power of attorney does not have title and hence third parties may refuse to deal with the agent. However, if the third party is willing to deal with your agent under a power of attorney, the power of attorney is less expensive to create.
