What is a Pour-Over Will?

A pour-over will is a special type of last will and testament designed to work in conjunction with a revocable living trust. Its primary purpose is to ensure that any assets not already titled in the name of the trust during your lifetime are "poured over" into the trust upon your death. Here's how and why it is used:

Key Purposes of a Pour-Over Will

1. Catching Forgotten Assets: If you inadvertently leave assets out of your trust (e.g., a new bank account or piece of property acquired after you created the trust), the pour-over will directs those assets to be transferred into the trust upon your death.

2. Simplifying Probate: While the trust generally helps avoid probate for assets it holds, assets covered by the pour-over will still go through probate. However, they are ultimately directed into the trust, ensuring your trust beneficiaries receive them as intended.

3. Ensuring Consistency: It aligns with the estate plan laid out in the trust, ensuring that all your assets are eventually distributed according to the terms of the trust, even if you missed retitling some assets during your lifetime.

4. Naming a Guardian for Minor Children: A pour-over will is also used to appoint a guardian for minor children if applicable, as this cannot be done through a trust.

How a Pour-Over Will Differs from a Regular Will

• A regular will distributes assets directly to beneficiaries and must go through probate.
• A pour-over will directs assets into the trust, where the trust terms then govern their distribution.

Why You Still Need a Pour-Over Will with a Revocable Living Trust

While a revocable living trust is a powerful tool for avoiding probate and simplifying the transfer of assets, it's not uncommon for people to forget to transfer some assets into the trust. Without a pour-over will, those forgotten assets would be distributed according to state intestacy laws (if no other will exists), which might not align with your wishes.

Best Practices

To minimize the need for a pour-over will:

1. Keep your trust fully funded by transferring new assets into it as they are acquired.
2. Regularly review your estate plan to ensure all assets are accounted for in the trust.

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