Trustee, Executor, or Power of Attorney? Understanding Fiduciary Roles Across Washington and Oregon
When families begin estate planning, they often feel overwhelmed by the terms: trustee, executor, personal representative, attorney-in-fact, guardian, conservator. What do they all mean, and who should you choose for each role?
Understanding fiduciary roles is critical because these are the people who will carry out your wishes when you cannot. Choosing wisely can mean the difference between a smooth transition and a costly, painful family dispute.
Breaking Down the Roles
- Trustee
A trustee manages assets in a trust, following your instructions you provided in the trust document. Trustees handle investments, pay expenses, and distribute assets to beneficiaries. - Executor (Personal Representative)
Appointed in a will (and confirmed by the court), the executor administers your estate after death. They pay debts, file taxes, and distribute assets under Washington or Oregon law. - Agent under Power of Attorney
This person acts for you during your lifetime, making financial or medical decisions if you cannot. Their authority ends at your death, which is why wills and trusts are also needed.
Guardian/Conservator
Appointed by the court when no planning exists, or the planning that exists is not sufficient to address the challenges that are being faced. These roles can be costly and restrictive. Good planning usually makes them unnecessary.
The Common Thread: Fiduciary Duty
Each role carries a fiduciary duty—a legal obligation to act in the best interest of the person they represent. This means acting with honesty, loyalty, and care, even when decisions are difficult.
Choosing the Right People
Selecting fiduciaries is one of the most important estate planning decisions you’ll ever make. Consider:
- Who is responsible and trustworthy?
- Who is calm in a stressful situation?
- Who can handle conflict calmly if disagreements arise?
- Who lives close enough to help when needed?
- Who has time to step in when needed?
- Who will respect what you want instead of making choices based on their own opinions?
Do you need to appoint a professional fiduciary instead of a family member?
Why Clarity Matters
We’ve seen too many families torn apart because these roles were unclear or contested. By choosing and naming fiduciaries in advance, you remove uncertainty and protect your loved ones from unnecessary conflict.
Supporting Families Across the Pacific Northwest
At Pettis Webber Pacific, we help families in Washington and Oregon understand fiduciary roles, choose wisely, and put documents in place that provide clarity and peace of mind.
Click here to schedule a consultation today—because the best time to plan is before the need arises.