Easily Delete Value Choice in the Pour-Over Will

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How to Delete Value Choice in the 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 is a pour-over clause in a will?

A pour-over will is a type of will that works in partnership with a living trust. Its designed to catch property you didnt put in your trust during your lifetime letting the court know you want these assets transferred to your trust after you die.

What does it mean to revoke a will?

Will revocation is the revoking of a will by an act of the testator. If a legally valid revocation is made, the will that was revoked is considered to no longer have any legal force or effect.

Is a last will and testament the same as a pour-over will?

A standard last will and testament dictates who should you receive your assets when you die, and a pour-over will is just a type of will that includes language covering any assets and you didnt get to transfer into your trust one that you already created during your life time, which is called a living or inter vivos

What circumstances force a revocation of a will?

The most common reasons for amending (i.e., executing a codicil) or revoking a will include: The birth or death of a relative. The acquisition of new property or assets.

How do you revoke a will effectively?

The best way to get rid of your current Will is to create a new one and specifically provide a provision in your new Will stating that you are revoking all prior Wills and codicils. Without specifically revoking all other Wills, the prior Will may still be valid.

What are the two types of revocation?

Revocations are either express or implied. An express revocation is one that must be in writing in order for it to be legally binding. For example, revoking a Power of Attorney agreement must usually be in writing, depending on the states laws. An implied revocation doesnt have to be in writing as it is implied.

Can a beneficiary remove themselves from a trust?

Can Beneficiaries Waive Their Inheritance? While a trustee cannot usually remove a beneficiary, a beneficiary who does not wish to get an inheritance can remove themselves from the trust distribution.

What does revoked will mean?

If a will is revoked, this effectively means that it has been cancelled. There are three ways in which a will can be revoked. Revocation of a will by making a subsequent will or codicil.

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