Add Formulas and Calculations Legal Utah Pour Over Will Forms For Free

Having a revocable trust in place can help you avoid probate, which is the process a court takes to finalize your legal and financial matters after your death. Probate can be lengthy and expensive for your loved ones.

A poor over will should include the pour over provision, which directs any asset that is part of your probate estate to your trust but more generally, a pour over will contains your nomination of an executor and an alternate executor, in case the person is unable to act.

The basic requirements for a Utah last will and testament include the following: Age: The testator must be at least 18 years old. Capacity: The testator must be of sound mind. Signature: The will must be signed by the testator or by someone else in the testator's name in his conscious presence, by his direction.

No, you don't need to notarize your will to make it legal in Utah. However, Utah allows you to make your will "self-proving" and you'll need to go to a notary if you want to do that. A self-proving will speeds up probate because the court can accept the will without contacting the witnesses who signed it.

The main downside to pour-over wills is that (like all wills), the property that passes through them must go through probate.

The negative aspect is that any type of will must go through the administrative and legal hurdles of probate court proceedings, which can take months if not longer, depending on the size of the estate. A pour-over will is a kind of a makeshift measure to make sure every asset ends up in your trust.

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.

Think of a pour-over will as a failsafe. If any assets are unaccounted for, a pour-over will ensures they're automatically placed in a trust for a grantor's named beneficiaries. This type of will can also include a backup plan, should the trust dissolve or become invalid.

For a pour-over will, the executor will need to take all your assets that pass under the will and put them in the living trust. Then the trustee you've named will collect the trust assets and distribute them to the named beneficiaries.