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Pour-Over Will

A pour-over will is a legal document that transfers any assets not already in a trust to the trust upon the individual’s death.

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Service Description

A Pour-Over Will is a legal document that is used in estate planning. It is designed to work in conjunction with a living trust, which is a legal arrangement that allows a person to transfer their assets to a trustee during their lifetime, to be distributed to beneficiaries upon their death. The primary purpose of a Pour-Over Will is to ensure that any assets that are not properly transferred into the trust during the person’s lifetime are still distributed according to their wishes upon their death.

Essentially, a Pour-Over Will is a safety net that catches any assets that were not properly transferred into the trust during the person’s lifetime. These assets are then “poured over” into the trust, where they can be distributed according to the person’s wishes.

One of the key benefits of a Pour-Over Will is that it can help to simplify the probate process. Probate is the legal process through which a person’s assets are distributed after their death. If all of a person’s assets are properly transferred into a living trust, then the trust can be administered without going through the probate process. However, if there are assets that were not transferred into the trust, then those assets will need to go through probate. By using a Pour-Over Will, the person can ensure that those assets are still distributed according to their wishes, but without the need for a separate probate proceeding.

In order to create a Pour-Over Will, the person will need to work with an estate planning attorney. The attorney will help them to draft the document and ensure that it is properly executed. It is important to note that a Pour-Over Will is not a standalone document – it must be used in conjunction with a living trust.

Overall, a Pour-Over Will can be an important tool in estate planning. It can provide peace of mind to the person creating the document, knowing that all of their assets will be distributed according to their wishes, and it can help to simplify the probate process for their loved ones.

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