Overview
A pour-over will works in conjunction with your living trust. Any assets that were not transferred to your trust during your lifetime "pour over" into the trust at death. While these assets still go through probate, they ultimately end up in your trust and are distributed according to its terms.
Best For
- Anyone with a living trust
- Those who may forget to transfer assets
- People who acquire assets frequently
- Backup estate planning
Key Features
- ✓ Catches forgotten assets
- ✓ Directs everything to your trust
- ✓ Names guardians for minor children
- ✓ Nominates personal representative
- ✓ Simple and straightforward
- ✓ Works seamlessly with living trust
Considerations
- Assets still go through probate
- Should be paired with a living trust
- Not a standalone estate plan