Easily Hide Required Fields to the Pour-Over Will

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How to Hide Required Fields to the Pour-Over Will

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- Today, were going to discuss pour-over wills. Welcome to 2 Minute Tuesday, where I attempt to discuss an estate planning topic in two minutes or less. Now, before we get started, if youre enjoying these videos every Tuesday, can you please do me a huge favor and hit the Subscribe button in the right hand corner below. I would really appreciate it. The other day, I got a call from somebody asking why their relatives had a pour-over will and not a last will and testament. Well, without knowing anything about their relatives, I attempted to answer their question. And at the same time, I thought this would be a great topic for 2 Minute Tuesday. So why do some people have a last will and testament, and some people have a pour-over will? Somebody usually has a pour-over will when they have a revocable living trust. The pour-over will acts as a kind of a catch-all, so if you have a revocable living trust, one of the main reasons is probably to avoid probate. No one wants to put their fami

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Below are some common questions from our customers that may provide you with the answer you're looking for. If you can't find an answer to your question, please don't hesitate to reach out to us.

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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 is a pour-over will in Florida?

A pour-over will in Florida transfers all of a persons property and assets, that are subject to probate, into the decedents trust when he or she passes away. The property transferred into the trust is then distributed to the beneficiaries of the trust by the trusts terms.

Does a pour-over will have to be probated 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 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 is a pour-over will in New York?

A pour-over will is an invaluable document for anyone who has created a living trust as part of their estate plan. Its a specialized last will and testament, designed to catch assets that have not been retitled or transferred into your living trust, pouring them into the trust upon your death.

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 a drawback of a pour-over will?

The main downside to pour-over wills is that (like all wills), the property that passes through them must go through probate. That means that any property headed toward a living trust may get hung up in probate before it can be distributed by the trust.

What makes a will legally binding in Florida?

For your will to be valid under Florida law, it generally must be properly executed and witnessed. This means: You must sign at the end of your will while in the presence of at least two competent witnesses. Your decision to execute your will must be free and voluntary.

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