A Trustee of a trust and a Power of Attorney (POA) both allow an individual(s) to manage legal and financial affairs for someone else, but each operate in different scopes and timelines.
A Power of Attorney appoints an agent to manage personal assets that are held outside of a trust. Such assets can include certain bank accounts and retirement accounts such as 401k, IRA, and ROTH IRAs (since retirement accounts are not included in a trust). A POA also ends at death. A Trustee, on the other hand, manages assets that are held in the trust, and their duties can last beyond death.
A proper estate plan includes the appointment of a POA as well as trustee(s) along with successor trustees so that all involved parties can make sure the estate is always handled effectively and efficiently, whether the person who established the estate plan is alive, incapacitated, or deceased. Each party is given specific authority and power over different assets and tasks. Therefore, it is important to regularly review an estate plan to ensure those appointed are still willing and capable of handling the financial affairs.