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How to Blackout Pour-Over Will

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[Music] what is a poor over will youve probably heard that term and have no idea what it means and most people dont so let me explain hi im lynn st louis estate planning and elder law attorney here in washington so a poor over will is simply a will it is a type of will its no different than any other kind of will so why is it called pour over the reason its called pour over is if youve heard that term your attorney has said that to you you have a revocable living trust as a component of your estate plan so a revocable living trust is a document that you sign as your estate planning as part of your estate plan and the purpose of it is so that upon your death you dont need to go through a probate process so lets say you and your spouse have a revocable living trust the idea is is that when the first of you dies everything probably goes to the surviving spouse when both of you die maybe everything goes down to your children or wherever you want it to go the terms of the trust say

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What does pour over mean in legal terms?

Search Legal Terms and Definitions A pour over will is a protection which is intended to guarantee that any assets which somehow were not included in the trust become assets of the trust upon the partys death.

Does a pour-over will avoid probate in Florida?

However, in Florida, a pour-over Will does go through probate. This means that whatever property has not been transferred prior to death will become part of the public record and count toward your estate administration fees and estate taxes.

What is another name for a pour-over will?

A living trust is a legal document that lets you direct how your assets are distributed after you die. A living trust owns the assets transferred to it, while still allowing you to use and control that property during your lifetime.

What is the difference between a pour-over will and a will?

The difference between a simple will and a pour-over will is that a simple will is meant to handle your entire estate, such as by leaving it to your spouse or your kids. A pour-over will exists only to move assets into the trust and works in conjunction with either a revocable living trust or an irrevocable trust.

What is another name for a pour-over will?

A living trust is a legal document that lets you direct how your assets are distributed after you die. A living trust owns the assets transferred to it, while still allowing you to use and control that property during your lifetime.

What is the difference between a pour-over will and a will?

The difference between a simple will and a pour-over will is that a simple will is meant to handle your entire estate, such as by leaving it to your spouse or your kids. A pour-over will exists only to move assets into the trust and works in conjunction with either a revocable living trust or an irrevocable trust.

Why is it called a pour-over will?

Under the terms of a pour-over will, all property that passes through the will at your death is transferred to (poured into) your trust. Then its distributed to the trust beneficiaries you named while you were alive.

What is a wipeout provision in a will?

A wipe out is when those you have provided for in your Will die before you. So in order to avoid a long lost relatives benefitting from your estate you should provide for a wipe out by including a common tragedy clause and a wipe out beneficiary when making your Will.

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Straightforward instructions on how to Blackout Pour-Over Will

Follow these simple steps to Blackout Pour-Over Will using DocHub:

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How to Blackout Pour-Over Will

Got questions?

What does pour over mean in legal terms?

Does a pour-over will avoid probate in Florida?

What is another name for a pour-over will?

What is the difference between a pour-over will and a will?

What is another name for a pour-over will?

What is the difference between a pour-over will and a will?

Why is it called a pour-over will?

What is a wipeout provision in a will?

See why our customers choose DocHub

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