Q & A:
Q: What is a pour-over will?
— Prudent Planner
A: Dear Prudent,
For a living trust to function properly, you must first transfer the legal title of any assets you want to be held by the trust from your name into the name of the trust.
Because it can be difficult to transfer the title to every one of your assets into a living trust before your death, most trusts are combined with what’s known as a “pour-over” will. This type of will serves as a backup to a living trust, so all assets not held by the trust upon your death are transferred, or “poured,” into your trust through the probate process.
As your trusted family lawyer we will not only make sure all of your assets are properly titled when you initially create your trust, but we will also ensure that any new assets you acquire over the course of your life are inventoried and properly funded to your trust.
Whether you need a trust set up, funded, or you need a pour-over will prepared, contact us, your trusted family lawyer to get started.
This article is a service of Legacy Counsel PLC, a trusts and estates law firm in Saint Joseph, Michigan. We don’t just draft documents; we ensure that you make informed and empowered decisions about life and death, for yourself and the people you love. That’s why we offer a Life & Legacy Planning Session, during which you will get more financially organized than you’ve ever been before and become empowered to make all the best choices for the people you love. You can begin by calling our office today at 269-932-4017 to schedule a Life & Legacy Planning Session. Or you can schedule your appointment online here . Mention this article to find out how to get this $750 session at no charge.