Pour-Over Will


DEFINITION of '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. By doing so, the individual ensures that his or her estate has an explicit direction to shift assets into the trust.

BREAKING DOWN 'Pour-Over Will'

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.

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  1. How do you set up a revocable trust?

    A revocable living trust (RLT) is an arrangement in which a grantor transfers ownership of property through a trust. The ... Read Full Answer >>
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    The executor of a will is the person designated with the task of administering the will's instructions. The responsibilities ... Read Full Answer >>
  3. Can I put my IRA in a trust?

    You cannot put your IRA in a trust while you are living. You can, however, name a trust as the beneficiary of your IRA and ... Read Full Answer >>
  4. How does the trust maker transfer funds into a revocable trust?

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  5. What is the difference between a revocable trust and a living trust?

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