What Is A “Pourover” Will?

by Bruce Givner on October 31, 2011

When you have a “family” trust – sometimes called a “living” or “revocable” or “inter vivos” trust – you want to make sure that all of your assets are in the trust so that it accomplishes it’s goals. The goals of a family trust are to avoid probate, avoid the need for a conservatorship and to distribute the assets to the people you have selected in the format you have selected.

How can you be sure that the assets have been transferred to the trust?  One way is to change title to all of the assets into the trust’s name. Another way is to list all of the assets in the trust, or in a “general” assignment of assets to the trust. However, just to be safe, we prepare a Will that provides that any assets not already in the trust at the time of your death are to be transferred to your trust after your death. This type of Will is called a “pourover” Will: the assets subject to the Will are to “pour” into the trust at your death. It is like a failsafe device to make sure no assets are missed. In a future blog we’ll talk about the “general” assignment of assets, which in California we sometimes call by the name of the case which made these assignments effective: the Heggstad case. To establish a “pourover” will contact Givner & Kaye and find out what we can do for you. www.GivnerKaye.com (310) 207-8008

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