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I hereby give all the rest and residue of my estate to ________________________ (Complete Name), the Trustee of the Living Trust, solely to be held in trust and used for the purposes stated within the trust.

over will, and a testamentary trust both allow you to transfer assets into a trust after death. The key difference is timing: a pourover will transfers assets into an existing trust, while a testamentary trust is created by the will itself and only comes into existence upon your death.

over will can include instructions for what to do with your assets should that happen. So, rather than revising your wills, you decide to create a pourover will. In it, you specify that any assets you and your spouse obtain, that aren't included in your wills, should transfer into the trust upon your death.

I give all of my probate estate, after expenses and taxes are for under this Last Will and Testament, to the then-acting Trustee of the Trust Name, dated Trust Date, and any amendments thereto (the ?Trust?), executed before this Last Will and Testament, to be added to the property of that trust.

It doesn't completely avoid probate. The major disadvantage of pour-over wills is that unlike living trusts, all assets that go through wills of any kind may be subject to probate.

Having a pour-over will is important if you have created a living trust because it acts as a safety device to ?capture? any assets and property that have not been transferred into the trust before your death. These two legal documents work together to make sure that all your assets and property end up in your trust.

Some of the disadvantages of a pour-over will The pour-over assets do need to go through probate. The main problem here is one of time. Until there is the probate of the will, the assets are essentially in limbo - on hold. They are not under anyone's control.

The difference between a simple will and a pour-over will is that a simple will is meant to handle your entire estate, such as by leaving it to your spouse or your kids. A pour-over will exists only to move assets into the trust and works in conjunction with either a revocable living trust or an irrevocable trust.

over will can help the family and beneficiaries of the testator's will avoid probate on nontrust assets by transferring them into the trust's care after the testator dies. If the value of the pourover assets does not exceed California's statutory limits for trust funds, the assets will not move into probate.