Wills and trusts may generally be presented as two completely separate legal avenues for estate litigation and asset distribution but the two can coincide with one another. By using a pour over will you can enjoy some of the benefits of both wills and trusts without overly complicating matters. If you think this sounds like the solution for you, contact our Los Angeles wills attorney from the Law Offices of David A. Shapiro. Our staff of legal professionals can ensure that your needs are met and unnecessary obstacles are removed. We pride ourselves on our individualized attention and client care!
Pour Over Will Details and Uses
When an asset is assigned to a trust, it can become inaccessible depending on the type of trust that has been used. It may also be difficult to transfer newly acquired assets into your trust. If you want to keep the flexibility of a will but also benefit from the express nature of a trust, a pour over will could be the answer for you. Upon your passing, any portion of your estate that passes through your will is automatically transferred, or pour into, your preexisting trust for distribution based on your wishes, not the laws of your state.
Benefits of using a pour over will include:
- Ease: Rather than making your loved ones sort through both a will and a trust, you can simplify the process by pouring your will into your trust so only one document is necessary.
- Thoroughness: If you forgot to assign something to your trust, you need not worry. Anything and everything is subject to pour over so you can be certain that nothing is overlooked.
- Privacy: Wills can be accessed by the public after your passing, but a pour over will cannot because it is technically a form of trust.
There is one major potential downsides of pour over wills you should consider first: probate. Whatever goes through your pour over will needs to go through probate before it enters your trust. If time is of the essence for your beneficiaries, the probate process may be a considerable disadvantage to them.
How Our Los Angeles Wills Lawyer Can Help You
At our firm, trust litigation is one of our primary focuses, so we are very familiar with all aspects of trusts and pour over wills. We will walk you through the process of handling your trust and pour over will with all the knowledge, care, and skill at our disposal.
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