Hide Words from the Pour-Over Will

Aug 6th, 2022
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How to Hide Words from 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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A pour-over clause is also generally viewed as a dispositive provision directing that all or part of the estate should be added to the corpus of an existing trust, the terms of which were not reiterated in the will itself.[1] Quinn executed the trust declaration contemporaneously with the execution of his 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.
A pour-over clause is also generally viewed as a dispositive provision directing that all or part of the estate should be added to the corpus of an existing trust, the terms of which were not reiterated in the will itself.[1] Quinn executed the trust declaration contemporaneously with the execution of his 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.
Whats The Advantage Of The Pour-Over Will? A pour-over will enables the living trust to make a smooth transfer of assets. The key advantage is that none of your assets will have to be settled ing to the intestate laws of the state.
The Disadvantage of a Pour-Over Will There is really only one disadvantage to this type of will. A pour-over will, like a traditional last will and testament, does need to go through the probate process. The probate process is not fast. It can take many months before the assets can be distributed.
A pour-over will also makes the job of the estate executor much easier. They only have one job: Adding all assets named in the pour-over will to the trust. From then on, the successor trustee takes over and distributes the assets to beneficiaries in ance with the terms set forth in the trust.
Primary tabs. Successor Trustee is the person or institution who takes over the management of a living trust property when the original trustee has died or become incapacitated.

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