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How to Organize Pages Pour-Over Will

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Attorney Andrew Bethel discusses the concept of a pour-over will and its role alongside a living trust. A pour-over will functions to transfer non-trust assets into a living trust upon death, preventing these assets from entering probate. It is likened to a teacup (the trust) and a saucer (the pour-over will), where the saucer catches any spillage or unallocated assets, ensuring they are incorporated into the trust. This analogy illustrates how the pour-over will acts as a safety net, securing assets that may not have been included in the trust and preventing them from falling into the probate process.

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Do all estates go through probate in Colorado?

All wills and intestate estates must be probated, but the degrees of court involvement and complexity range from simple and inexpensive to complicated and costly.In Colorado there are three types of probates.

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 Colorado?

A pour over will functions after an individual has already created a trust and funded the trustmeaning, they have placed certain assets in the trust to be given to beneficiaries after their death in order to avoid the probate court process.

What is the best way to avoid probate in Colorado?

Living Trusts In Colorado, you can make a living trust to avoid probate for virtually any asset you ownreal estate, bank accounts, vehicles, and so on. You need to create a trust document (its similar to a will), naming someone to take over as trustee after your death (called a successor trustee).

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.

Does a beneficiary deed avoid probate in Colorado?

Beneficiary deeds enable real property owners in Colorado to transfer their property to a designated beneficiary upon death without having to go through probate, which may help save time and money in the administration of the estate.

Does a car have to go through probate in Colorado?

Did you know that Colorado law allows anyone owning a car registered in the state to name a beneficiary to receive that car without having to go through probate? This can make estate planning for small-to-modest estates even easier.

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.

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Organize Pages Pour-Over Will