Pour Over Will
For individuals who utilize a living revocable trust as the center of their estate plan, a pour over will is strongly advised. A pour-over will is a testamentary device wherein the writer of a will creates a trust, and decrees in the will that the property in his or her estate at the time of his or her death shall be distributed to the Trustee of the trust.
Generally, the pourer will is a backup tool. It is used if a person forgot to put any assets into the trust. If someone has created a trust, that person should take extra special care to ensure all there assets are titled accordingly (or the trust is named as a beneficiary accordingly) so the trust is the owner of the assets during the life person or at the time of their death. A trust is the most preferred method for avoiding probate.
For individuals who utilize a living revocable trust as the center of their estate plan, a pour over will is strongly advised. A pour-over will is a testamentary device wherein the writer of a will creates a trust, and decrees in the will that the property in his or her estate at the time of his or her death shall be distributed to the Trustee of the trust.
Generally, the pourer will is a backup tool. It is used if a person forgot to put any assets into the trust. If someone has created a trust, that person should take extra special care to ensure all there assets are titled accordingly (or the trust is named as a beneficiary accordingly) so the trust is the owner of the assets during the life person or at the time of their death. A trust is the most preferred method for avoiding probate.
For individuals who utilize a living revocable trust as the center of their estate plan, a pour over will is strongly advised. A pour-over will is a testamentary device wherein the writer of a will creates a trust, and decrees in the will that the property in his or her estate at the time of his or her death shall be distributed to the Trustee of the trust.
Generally, the pourer will is a backup tool. It is used if a person forgot to put any assets into the trust. If someone has created a trust, that person should take extra special care to ensure all there assets are titled accordingly (or the trust is named as a beneficiary accordingly) so the trust is the owner of the assets during the life person or at the time of their death. A trust is the most preferred method for avoiding probate.