Easily Remove Comments to the Pour-Over Will

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How to Remove Comments to the Pour-Over Will

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hi everyone my name is armanei bazikin and this month were going to talk about what happens when a loved one passes away and they actually did proper planning they have a will and a trust in place so in previous months weve spoken about how a will by itself doesnt really do much by way of helping you avoid the probates probate systems and weve also spoken about how not having a will again doesnt help so in this scenario we envision a person who has preemptively gone into an attorney created a will and a trust of some sort and funded it correctly so were assuming everything is done correctly so if you pre-plan meaning you think ahead of time about whats going to happen after your death and you go in and you talk to you know one of our attorneys and you sit there and you plan out what you want to happen in an ideal situation assuming everything is absolutely to your liking when youre gone all that needs to be done is your trust needs to be administered this trust administration p

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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 are the disadvantages of a pour-over will?

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.

Is last will and testament the same?

A Will, also known as a Last Will and Testament, is a legally prepared and bound document that states your intentions for the distribution of your assets and wealth after your death.

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.

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

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.

Does will and testament mean the same thing?

A will traditionally included only instructions regarding real estate. It dealt with the disposition of land and structures on it that were owned by the testator. A testament originally contained instructions for personal property, such as money, jewelry, vehicles, precious goods, etc.

What is the limit on a pour-over will in California?

Assets in a pour-over will only avoid probate if their total value is under $184,500, thereby qualifying the estate for a small estate affidavit. If the assets total more than $184,500, then they will have to go through probate.

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