This essentially means that any assets that you hadn't moved to your Trust before your death be automatically moved (or "poured") into the Trust after your death. Once in the Trust, those assets will be subject to the terms and stipulations of the Trust.
Reasons For Creating A Pour-Over Will
It's like having a safety net for any assets you may have forgotten about or intentionally left out of a Trust that you would like to move into a Trust after death. This can help your heirs avoid Probate, or at least make the Probate process go faster. Though Probate laws vary from state to state, for the most part the assets that “pour” into the Trust will avoid Probate if they total less than $100,000.00. However, you should check with a trust and estate attorney in your state to learn about your state’s laws.
How To Create A Pour-Over Will
In order to create this, a Revocable Living Trust must already have been properly established. If you are interested in setting one up, consult with a trust and estate attorney in your state.
To learn more about trusts, see Establish Trusts.
