Transform your daily workflows and Manage Pour-Over Will

Aug 6th, 2022
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How to Manage Pour-Over Will

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hi attorney andrew bethel weve talked previously about why you still need a last will and testament with a trust now lets talk about that will in detail the poor over will what it is and how does it differ from a normal last will and testament or living will your pour over will works in conjunction with a living trust in laymans terms it grabs non-trust assets and pours them into your trust one way ive heard it described is with a cup and saucer example think of your trust as a teacup with the tea of course being your assets held in trust one of the functions of the saucer placed under your cup is that it catches anything that doesnt make its way into or spills out of the cup that saucer is your pour over will collecting assets that did not make their way into the trust rather than letting them fall on the table which here is probate another way to think about your poor over will is that its a safety net its catching assets before they hit the floor which again here is probate

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You should include language in your Pour Over Will that clearly states: any assets or property that are not in the Trust at the time of death, and that do not have a named beneficiary, should be transferred to the Trust after you pass.
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.
A pour-over will only goes through probate if you have failed to attach all your assets to your living trust. The probate process with a pour-over will is much shorter than probate with a traditional 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.
The four main types of wills are simple, testamentary trust, joint, and living. Other types of wills include holographic wills, which are handwritten, and oral wills, also called nuncupativethough they may not be valid in your state. Your circumstances determine which is best for you.
A pour-over will only goes through probate if you have failed to attach all your assets to your living trust. The probate process with a pour-over will is much shorter than probate with a traditional will.
You should include language in your Pour Over Will that clearly states: any assets or property that are not in the Trust at the time of death, and that do not have a named beneficiary, should be transferred to the Trust after you pass.
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.

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