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Topic: Pour over will


  
  Pour-Over Will
A will established by an individual who has already taken the necessary steps to set up a trust, so that upon the death of the individual, all of his or her assets are to be transferred - or "poured over" - to the trust.
A pour-over will adds a degree of safety and peace of mind to an individual's estate planning, because any assets that were not included in the trust, for one reason or another, will be poured-over to it by virtue of the will.
The will can also stipulate that the assets intended for the trust be distributed to the beneficiaries if, for some reason, the trust itself is not able to be created or is invalid at the time of the individual's death.
www.investopedia.com /terms/p/pour-overwill.asp   (341 words)

  
  Pour Over Will definition   (Site not responding. Last check: 2007-11-06)
Someone's will who already executed a trust that designates all property that is to be distributed or managed upon the person's death whose possessions are in trust, leaving all property to the trust.
A pour over will protects the assets by guaranteeing that any assets which were somehow not included in the trust become the trust's assets upon the death of the party.
Additionally, a pour over will provide that if the trust is invalid in part or in whole, the will's distribution must be made under the same terms as the invalid trust stated.
www.legal-explanations.com /definitions/pour-over-will.htm   (95 words)

  
 [No title]   (Site not responding. Last check: 2007-11-06)
a will of a person who has already executed a trust in which all property is designated to be distributed or managed upon the death of the person whose possessions are in trust, leaving all property to the trust.
A pour over will is a protection which is intended to guarantee that any assets which somehow were not included in the trust become assets of the trust upon the party's death.
A pour over will often provides that if the trust is invalid in whole or in part, the distribution under the will must be made under the same terms as stated in the invalid trust.
dictionary.law.com /definition2.asp?selected=1563&bold=||||   (106 words)

  
 Avoiding probate. (includes related article)
If a person dies leaving a valid will, that is, dies testate, title to the property will be distributed to the beneficiaries specified under the provisions of the will.
Even when joint tenancy is chosen between spouses, the couple should have a will to provide for administration and disposition of their joint estate upon the surviving spouse's death or upon a simultaneous death, as well as for guardians for any minor children.
Whether a will or revocable trust is chosen, consideration should be given as to who is to serve as executor of the will as well as to alternate executors.
www.luca.com /cpajournal/old/16531680.htm   (3628 words)

  
 Living Trusts: What You Should Know   (Site not responding. Last check: 2007-11-06)
A "pour-over" will is necessary to distribute any property that is acquired in the name of the grantor after the living trust was established, or any property that was not transferred into the trust in the first place.
The use of "pour-over," together with a living trust ensures that assets not held in trust will be distributed in accordance with the wishes of the deceased, and not by the laws of intestacy.
A will becomes a matter of public record during the probate process, and a copy can be obtained upon request to the Surrogate's Court.
www.oag.state.ny.us /seniors/living_trust.html   (998 words)

  
 Living Trust Agreement   (Site not responding. Last check: 2007-11-06)
Over time, as new assets are acquired those assets must also be titled in the name of the trust.
You will likely have assets that you choose not to transfer into your living trust, cannot be transferred due to some contractual or other restriction, are not be transferred because they are less valuable, or for other reasons.
Because these items will not be in your living trust, they will not be subject to distribution according to the terms of your Living Trust Agreement upon your death.
www.smartagreements.com /pro/lp130.htm   (1224 words)

  
 Roberta P. Clark, Attorney at Law
Depending on whether or not you are married and have children your estate will pass to your spouse, your children, or your closest living blood relative.
A Pour Over Will is a Will, which merely pours any assets not titled in your Trust into your Trust after death.
The Pour Over Will merely lets the trustee distribute the assets according to the terms of the trust, rather than distributing them outright by the terms of the Will.
www.robertaclark.com /wills.htm   (488 words)

  
 NapaNews.com | Should trust be changed after executor's death?   (Site not responding. Last check: 2007-11-06)
If it is a pour-over will, and you are named as the alternate executor after your brother, then you are probably named as successor trustee of your mother's trust as well.
It is best that your mother take the time to make sure what will happen to her assets upon her death, because when she dies it will be too late for her to fix things if the trust doesn't do what she wants.
Your mother should call the attorney who prepared her trust to verify what effect her son's death will have on how her assets will be distributed upon her death.
www.napanews.com /templates/index.cfm?template=story_full&id=89BA9A57-554B-4198-8CE4-CC2A519E454F   (482 words)

  
 Entner Stuart Syrups - Premium all-natural syrup
Combine milk and Blending Chocolate, heat to 150° then pour over syrups and shot of espresso.
Heat milk to 150° and pour over syrup and shot of espresso.
No part of this Web site may be reproduced without express written permission of Entner-Stuart™ Syrups or its parent company, Allann Brothers Coffee.
www.entnerstuartsyrups.com /html/Recipes-Classic-Drinks.html   (175 words)

  
 Decedent dies with estate assets under $15,000, has heirs and has pour over will and trust. Can the affidavit procedure ...   (Site not responding. Last check: 2007-11-06)
MCL 700.3102 has been amended recently by a technical corrections act to infer that the procedure of MCL 700.3983 may be used to transfer personal property to the devisee under an unprobated will.
Therefore, a gift under an unprobated will may be the basis for collection of personal property by affidavit.
The sworn statement under this section would implicitly indicate that the will is the last known will and that there is no known obstacle to its admission to probate.
courts.co.calhoun.mi.us /epic0332.htm   (308 words)

  
 What is a \"Pour-Over Will?\"   (Site not responding. Last check: 2007-11-06)
Another purpose of your pour-over will is to revoke any prior wills you might have had.
A will has no effect unless and until it is admitted to probate.
Often, we will not need to use the pour-over will to avoid probate if we have a General Assignment of Assets to our revocable living trust.
www.about-estate-planning.info /articles/what-is-a-pour-over-will.html   (345 words)

  
 Will contests - what are they?
A Will Contest is a type of litigation challenging the admission of a Will to probate.
Tests on the validity of a Will are not contingent on the elements of "fairness" or the reasonableness of its provisions or on the timing of disbursements (such as if you want it now, and the Will says you get it at age 50).
If the Will is thrown out, the court may disallow only the part of the Will that was challenged or throw out the entire Will of the decedent, distributing the property as if the person died without a Will, or use the last previous Will, depending on state law and the specific facts and circumstances.
law.freeadvice.com /estate_planning/wills/will_contest.htm   (388 words)

  
 Pour Over Will   (Site not responding. Last check: 2007-11-06)
The Personal Representative will have the responsibility, after the testator's death, to manage the testator's property, to pay outstanding debts, administration expenses and taxes owed by the testator or the testator's estate, and to pay what is left after payment of debts, expenses and taxes to the living trust.
The will must be signed by the testator in the presence of three witnesses and a notary public.
For a will to be accepted by a probate court, the personal representative or executor must show that the will was really the will of the testator.
www.smartagreements.com /pro/lp127.htm   (970 words)

  
 Pour-Over Will
By the terms of the pour-over Will, the property that it catches is distributed to the existing Trust.
Whenever a Trust is used, it is essential to also have a pour-over Will to catch your property which was not held by the Trust, not held in joint tenancy, or subject to other contractual arrangements at the time of your death.
This sample will is provided solely for purpose of illustrating the topics discussed in the accompanying "Plain English Explanation of Revocable Trusts and Pour-over Wills." It is not designed or intended for use as a drafting form or model document for the preparation of an actual will or trust.
www.assetprotectionunlimited.com /pour-over-will.htm   (1082 words)

  
 Pour over   (Site not responding. Last check: 2007-11-06)
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www.professional-legal-counsel.benchstats.com /probate/pour-over.php   (1679 words)

  
 Family Wills - About Estate Planning    (Site not responding. Last check: 2007-11-06)
Over the years you have worked, planned and saved.
It's a sure bet that you will want to pass along your accumulated assets rather than hand them over for court costs, taxes or attorney fees.
Estate planning is the relatively simple process by which you prepare legal documents outlining your wishes for your estate upon your death.
www.about-estate-planning.info /info/family-wills.html   (120 words)

  
 Last Wishes and Final Arrangements
A document under which a Will maker states his or her intentions regarding the persons or entities ("beneficiaries") who will receive the Will maker's property, and the person or entity ("Executor") who will carry out the Will maker's wishes.
Its primary function is to "pour over" the Will maker's remaining assets (at the Will maker's death) in the Will maker's' Living Trust.
It will help reduce the trauma associated with death, though not necessarily the grief over the loss of a loved one, and helps the family accept your death and get on with their lives knowing that you are also getting on with yours and that you will be together again.
www.beyondtheveil.net /wishes.html   (3232 words)

  
 Plain English Explanation of Revocable Living Trusts and Pour-over Wills
Since, however, the size of the "Family Trust" will equal the amount of the available estate tax exemption, there will be no tax due on the Family Trust at the death of the Grantor.
The term "Pour-over Will" is not used anywhere in the Will document but, nonetheless, this is a "Pour-over Will." This means that any asset not put into the Trust during the Grantor's life "pours-over" (goes) into the Trust at the death of the Grantor as part of the "Residue" of the Grantor's estate.
In most cases, if there is a husband and wife, the property will be owned in some form of joint tenancy so that it automatically passes to the surviving spouse outside of the Trust and, of course, not subject to the Will.
www.unclefed.com /AuthorsRow/Newland/PlainEN.html   (4022 words)

  
 Pour-over Last Will of James Joseph Raymond III
The Guardian nominated under this will shall have the same authority with respect to the person of the ward as a parent having legal custody of a child.
If any portion of my Will shall be held illegal, invalid or otherwise inoperative, it is my intention that all of the other provisions hereof shall continue to be fully effective and operative insofar as is possible and reasonable.
If you decided to have your Will notarized (which is by far the common and recommended practice), you and your witnesses will need to go to the notary together to all sign the Will at the same time.
www.medlawplus.com /legalforms/instruct/sample-pwill.html   (1667 words)

  
 Len Tillem & Associates - Attorneys At law.   (Site not responding. Last check: 2007-11-06)
When your father created his trust, he probably signed a "pour-over" will leaving his probate estate to the trustees of the trust.
A pour-over will is a safety net for people who spend thousands of dollars on a trust and forget to transfer their assets to the trust to avoid probate.
The only way you could get a piece of your father’s home is if he either had no pour-over will, or if you could prove he lacked mental capacity or was the victim of undue influence when he signed his estate planning documents.
www.sonic.net /~lmt/archives/040714.html   (501 words)

  
 LegacyLegalPlan.com - Executing the Pour-Over Will   (Site not responding. Last check: 2007-11-06)
If the client is married both the Husband and Wife will have to sign their own documents respectively.
Each spouse must sign that they are willing to take their inheritance as outlined in their spouse's will.
The Pour-Over Will effectively disinherits everyone including spouses and defers all distributions of property to the Revocable Living Trust so spouses are required to acknowledge their acceptance of the will in a document attached to the will known as the "Election to Take Under the Will".)
www.legacylegalplan.com /ed_POWill.htm   (276 words)

  
 Revocable Living Trust forms - Single Trust package by Common Sense Legal Forms
A "Pour Over Will" purpose is to put (pour) all of your assets which have not been titled to your Trust, into your Trust upon your demise (or in the case of a Marital Trust the demise of the second spouse).
These assets will be put into your Trust via the probate of your Pour Over Will.
The Health Care Directive also known and a Living Will or right to die document allows you to direct your personal physician to deny providing you with life support if your are diagnosed as being brain dead and have no chance of recovery.
www.cslegalforms.com /single_trust.html   (485 words)

  
 Steven W. Allen - Estate Planning Attorney   (Site not responding. Last check: 2007-11-06)
You either prepare your own will or one has been written for you by your state legislature (this is called the intestate law, and describes who will handle your estate and who will receive your assets if you should die without providing your own written instructions in your own will).
I have also produced a "wallet-sized living will," which is the same form as our standard living will, reduced in size and encased in a plastic sleeve.
This wallet-sized living will should be kept in your wallet or purse (it's the size of a credit card) or in the glove box of your car — so it's available in the event of an emergency.
www.stevenallen.com /basictools.html   (2206 words)

  
 Kearns & Kearns - Special Needs Trust, Estate Planning, Medicaid, Probate, Law Offices
Unlike a will, a living trust is not a matter of public record.
Assets held outside the trust will pass through probate, which is why you still must have a will in addition to the living trust.
The pour over will directs that any solely owned assets not held in your living trust shall “pour over” into the trust at your death.
ctelderlaw.com /estate/living.html   (609 words)

  
 What to Do When Someone Dies   (Site not responding. Last check: 2007-11-06)
File the Pour over Will: The Pour-Over Will must be filed with the Register in Probate in the county where the deceased lived at the time of death.
A separate certified death certificate will be needed for each insurance policy and each asset, (i.e., real estate, stocks, bonds, etc.) to remove deceased spouse's name from the account.
When the asset is later sold, capital gains tax will only be due on any increase in the value of the assets since the date of decedent's death.
www.nceps.com /settle.html   (2146 words)

  
 Does a widow's election to take against the will of her husband also waive any claim she may have to take from ...
Does a widow's election to take against the will of her husband also waive any claim she may have to take from husband's trust, to be funded by the pour over will?
To allow the wife the election against the will, and income from the trust, would appear to be allowing the proverbial "double dip".
(b) That the spouse will take 1/2 of the sum or share that would have passed to the spouse had the testator died intestate, reduced by 1/2 of the value of all property derived by the spouse from the decedent by any means other than testate or intestate succession upon the decedent's death.
courts.co.calhoun.mi.us /epic0270.htm   (496 words)

  
 WILLS OR TRUSTS? The Case For Living Trusts How To Eliminate The Hassles Of: PROBATE LAWYERS DELAYS THE LEGAL SYSTEM ...
LIVING WILL: A document that provides instructions to physicians, health care providers, family and courts as to what life-prolonging procedures are desired if a person should become terminally ill or be in a persistent vegetative state and unable to communicate.
POUR OVER WILL: A will that transfers the decedent's assets that are subject to the will to a trust that was already in effect prior to the decedent's death.
PROBATE: Court proceeding in which the authenticity of a will is established, an executor or administrator is appointed, debts and taxes are paid, heirs are identified, and property in the probated estate is distributed according to the dictates of the will.
www.living-trusts.net /intro-living-trusts.html   (4070 words)

  
 Living Trusts
However, there are other estate planning devices which avoid probate, such as a joint tenancy, a life insurance policy, and right of survivorship for a bank account, and individual retirement, pension or Keogh accounts.
A will becomes a matter of public record during the probate process, and a copy can be obtained upon request to the Probate Court.
No information or materials posted here are intended to constitute legal advice, and is not applicable to any particular set of facts, especially as to any personal situation.
www.lonestarlawyer.com /living_trusts.htm   (800 words)

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