Replace Cross into the Pour-Over Will and eSign it in minutes

Aug 6th, 2022
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How to Replace Cross into the Pour-Over Will

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- Today, were going to discuss pour-over wills. Welcome to 2 Minute Tuesday, where I attempt to discuss an estate planning topic in two minutes or less. Now, before we get started, if youre enjoying these videos every Tuesday, can you please do me a huge favor and hit the Subscribe button in the right hand corner below. I would really appreciate it. The other day, I got a call from somebody asking why their relatives had a pour-over will and not a last will and testament. Well, without knowing anything about their relatives, I attempted to answer their question. And at the same time, I thought this would be a great topic for 2 Minute Tuesday. So why do some people have a last will and testament, and some people have a pour-over will? Somebody usually has a pour-over will when they have a revocable living trust. The pour-over will acts as a kind of a catch-all, so if you have a revocable living trust, one of the main reasons is probably to avoid probate. No one wants to put their fami

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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
I give the rest of my estate (called my residuary estate) to my husband, Tex. If he does not survive me, I give my residuary estate to those of my children who survive me, in equal shares, to be divided among them and the descendants of a deceased child of mine, to take their ancestors share per stirpes.
A residuary clause is a provision in a will or trust that instructs how to transfer assets not specifically mentioned elsewhere. This is a valuable clause because you can pass on everything you own upon your death without anything going unclaimed.
A pour-over will helps ensure that your residuary estate and any assets you neglected to include in your living trust will be transferred to that trust automatically after your passing (literally poured over into the trust), so your estate can be distributed the way you want.
A residuary estate is the portion of a persons assets that are left over after paying off their estates debts, taxes and expenses and after distributing any specific gifts of property or money. People often put instructions in their wills about what to do with their residuary estates.
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.
It is also known as a residual estate or simply residue. As you may know, the residuary estate distribution clause distributes the remainder of ones estate once all expenses and specific bequests are compensated.
A pour-over will is a type of will that works in partnership with a living trust. Its designed to catch property you didnt put in your trust during your lifetime letting the court know you want these assets transferred to your trust after you die.

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