Pour-Over Will

Pour-Over Will

A Will directs how real and personal property will pass after death.  It is changeable until death or mental incapacity.  When using a Will, your estate passes through probate, if you have probate assets of $166,250 or more (fair market value of gross assets – not net assets).

A type of Will that is used in conjunction with a Living Trust is called a “Pour-Over Will.”  This is a back-up document in case you left assets outside of the trust that are subject to probate.  The will directs the executor to transfer any assets outside of the trust(s) into the Living Trust at your death.

Remember, any assets in a trust are not subject to probate.  Thus, if you have your assets in a living trust, your estate will not be probated upon your death and your heirs will be saved that time and expense.

Upon your death, your Will leaves any property that was not transferred to your Living Trust before your death to your Living Trust.  The Pour-Over Will functions as a safety net to ensure that the property owned in your individual name rather than in the name of your Living Trust at the time of your death is ultimately managed by your successor Trustees as provided in your Living Trust.  This is a second-best case scenario, though.  Your goal is to avoid probate altogether by transferring all of your assets to your Living Trust during your life.  This Pour-Over Will is merely a backup document to ensure that your Living Trust ultimately controls all your assets.