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How to Highlight Pour-Over Will

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In this video, Paul, an estate planning attorney, explains the difference between a pour-over will and a regular will. He frequently receives questions about pour-over wills and aims to clarify these terms for viewers. He introduces the concept of a regular will, which most people typically understand as a standard will outlining how one's assets are distributed upon death. Paul emphasizes the importance of understanding the background of both types of wills to grasp what a pour-over will entails. He also shares a scenic view of a Louisiana sunrise as a bonus during the discussion.

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Does a pour-over will avoid probate in Arizona?

Does a Pour-Over Will Avoid Probate? Just like any other type of will, a pour-over will must be signed by yourself and two witnesses in order to be considered valid in Arizona. However, it must still go through probate and be validated by the court before your assets can be distributed to the living trust.

Does a pour-over will avoid probate in Nevada?

Use a pour-over will: A pour-over will is another way to avoid probate. When you create a pour-over will, any assets that are not transferred to the living trust or other estate planning documents will be transferred to the trust upon your death.

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 an example of per Stirpes?

Per stirpes, Latin for by branch, refers to every person down a family tree beginning from another person. For example, everyone below a parent, such as their children and their great-grandchildren, is included in a branch.

How does a pour-over will work 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 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.

Can an estate be settled without probate in Florida?

Do all estates require probate? All estates do not go through probate in Florida. If a person passes away without a will or trust and has assets in their name ONLY, then probate is required to distribute property and monies.

What assets avoid probate in Florida?

Non-probate assets include jointly held property (land, bank accounts) or assets with beneficiary designations with payable on death designations (life insurance, annuities IRAs).

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Highlight Pour-Over Will