Easily Replace Date in the Pour-Over Will

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How to Replace Date in the Pour-Over Will

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hey in this video Im gonna talk about the difference between a pour-over will and a regular wheel Im Paul rambling on a state planning attorney I help our clients get and keep their legal affairs in order as a bonus on this video Im gonna give you a shot of our beautiful Louisiana sunrise over my left shoulder okay so the reason Im doing this video is because a lot of I get so many questions whats a pour-over wheel and sometimes you know they get the pour-over word messed up but anyway whats a pour-over will I get that all the time so I came up with the term for purposes of this video a regular wheel because if someone doesnt have a pour-over wheel theyre gonna have our regular wheel and so I really need to give you the background so you can have a good understanding of really what a pour-over will is all about first lets talk about the regular will so the regular wheel is the kind of will that you probably you know think a will is its when someone gets their real will writte

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Below are some common questions from our customers that may provide you with the answer you're looking for. If you can't find an answer to your question, please don't hesitate to reach out to us.

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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

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.

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.

Is a will made 40 years ago still valid?

Some firms keep wills indefinitely, while others have a policy of holding the original will for fifty years from the date of its creation. There is no absolute rule, but you should always err on the side of caution, even if you believe or know that a later will has been made.

What happens if your will is out of date?

If your will is out of date it can mean that those you leave behind will lose a greater share of your estate to pay more inheritance tax than might otherwise be necessary and your will could even cause a dispute between your family and friends falling out over their inheritance.

Why is it important to update your estate plan?

The Importance of Updating Your Estate Plan If you fail to review and revise your plan when you have had a life change or change of heart for some reason, your estate could end up in the hands of someone that it is no longer intended for.

What is an out of date will?

A Will does not have an expiry date. However, it is advisable to review your will periodically. If you acquire new property, or there are changes in your circumstances such as a marriage, your Will should be changed to reflect your circumstances.

How important is a date on a will?

A Will remains a valid legal instrument even if it does not have a date. However, without a date, there can be difficulty in proving that the undated Will is the last Will made by the deceased. This can cause uncertainty as to who the ultimate executors and beneficiaries are.

Is an out of date will valid?

A will does not expire, whether its a living will (which outlines your wishes for medical treatment should you become incapacitated) or a last will and testament (which dictates how your assets are divided when you pass away).

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Replace Date in the Pour-Over Will