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Pour-Over Wills and Inheritance If you die before funding inherited assets into your trust, a pour-over will can be helpful. It catches the assets from the estate of your deceased relative. It then directs your personal representative to transfer them from your estate into your trust.

What do you put in a pour-over will? To avoid any confusion after your passing, a pour-over will should only include your personal assets, and not any assets that are already part of your living trust.

With a pour-over will, any assets not included in your trust are automatically transferred to your trust after you pass away. Think of it as a kind of ?safety net,? capturing any property you didn't transfer to your trust while you were alive.

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.

The main difference is in scope. A standard will is intended to account for the entirety of the deceased's estate. They provide instructions for distributing all assets. By comparison, a pour-over will only gives instruction for handling assets not included in the standard will.

First and foremost, there are a number of asset types that typically do not pass through probate. This includes life insurance policies, bank accounts, and investment or retirement accounts that require you to name a beneficiary.

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.

The Purpose of a Pour-Over Will in New York that do not get transferred into your trust will be treated as your own personal property. In other words, they will have to go through the probate process and will be subject to estate tax.

Simply naming a beneficiary in your will does not mean the property will avoid probate; it means the beneficiary will inherit the property once probate is complete. As experienced probate attorneys, we know the benefits and disadvantages of each way to title and transfer property.