What Does a Good Estate Plan Look Like? | Part 3 of a 10 Part Series | The Pour-Over Will
The Pour-Over Will is an essential element of your Living Trust.
If you have a Living Trust why do you need a Will? All of your property that can be titled in the name of a person or entity, such as cars and real estate, can be put in your trust by naming the trust as owner on the title. All of your property which cannot be titled, or property with titles that you forget to add to the trust, can be added to the trust through a Pour Over Will upon your passing. If you have only a trust without a Pour Over Will, the court will decide, according to state law, who receives the property when you pass away. This type of Will “pours” your untitled assets, or assets not placed in the trust, into the trust.
The Living Trust Source by 1Source Law LLC believes any professionally prepared living trust package should include a pour-over will. If your shopping for a living trust, ask if its included in the price.
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