What is a Pour-Over Will?

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Bellomo & Associates

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Posted on

Sep 29, 2023

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Pennsylvania - South Central PA

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Most of us have heard about a Last Will and Testament, but have you ever heard of a pour-over Will? Pour-over Wills are often used in connection with living trusts.

There are several different types of living trusts.  Trusts are a vehicle that will avoid probate and often provide other benefits such as asset protection or other things, depending on what type of trust it is. The goal of a trust is to make sure that the assets are “funded into the trust.” In our office, we like to say that it is putting your boxes into your wagon.

However, oftentimes assets will be left out of the trust for a myriad of reasons. To be completely honest, the main reason is probably just because people forget to put them in the trust, and over time when they buy something new instead of having it put into the wagon they just leave it in their name alone out of forgetfulness.

A pour-over Will essentially says that all assets that are left in a person’s name alone at the time of their death should “pour over” into the trust. The will does still have to be probated because the asset was in the person’s name alone, but ultimately the assets will pour into the trust and then will be subject to the terms of the trust. We used this as a catchall or fallback provision so that we are sure that the trust terms will govern the distribution in the future.

Pour-over Wills are often much shorter than your traditional wills because their purpose is simply to get assets over into a trust, subject to the terms of that trust. Therefore, pour-over Wills are simple and easy to understand because of their purpose.

If you have a trust and your trust provides for all of the distributions to you and your family after you die, talk to your attorney or professional to determine how assets that are left in your name are going to be handled. Assuming that there won’t be any is probably not the best option or course of action. Talk to your professional to determine if a pour-over Will is right for you.

If you would like to have additional information or to discuss this further, please give us a call at 717-845-5390.

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Local Services By This Author

Bellomo & Associates

Estate Planning 3198 E Market St, York, Pennsylvania, 17402

We Educate so what happened to the Bellomo Family doesn't happen to yours!Our firms mission is to ensure that you and your family never needlessly, painfully suffer. Every team member has a personal story that has brought us here to advocate for you and your family. We want to replace your burden with peace of mind. We have the answers, but more important, we have your back.Bellomo & Associates, LLC advises Individuals and families, business owners, senior citizens, and their families about the estate planning and elder law challenges facing them today. For seniors and their families facing the issues of aging, or for those of any age who wish to protect their familys financial future, we counsel clients and provide solutions on Asset Protection; Specials Needs Trusts; Wills; Trust Design; Medicaid; Estate Planning; Nursing Home Matters; and Estate Administration. For our clients who own businesses, our team assists them with succession planning for their business in conjunction with their estate planning.  We have office locations in York, PA, and Lancaster, PA.We offer FREE workshops!  Our workshops are fun and entertaining ways to learn! We provide you with the information to decide what is right for you. If after attending, you decide we arent the right fit no problem! Youll never feel any pressure from our team.