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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. You also make sure to outline what should happen if there are complications with the trust, stating that your assets will automatically go to your beneficiaries.

A living trust may be better than a will if: You want to maintain privacy over your property or assets. You have several real estate properties. You have significant financial assets.

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.

The main difference between a simple will and a regular will is the complexity. Simple wills are relatively easy to create online and only name an executor, list assets and beneficiaries, and describe how to distribute them. They are generally best for distributing personal belongings and small amounts of money.

There are different types of wills, but the four main types are wills: simple, testamentary trust, joint, and living wills. Each type is meant for different situations, satisfying varying individual needs and circumstances as part of your estate planning.

The other advantage of a mirror-image will is you can change it. Like we said before, this can be important if you remarry, go through a divorce, or decide to disinherit a family member for other reasons. That flexibility is one of the reasons financial experts like Dave Ramsey recommend mirror-image wills.

A will is a document that approves you to designate how your property and property are allotted upon your death. The easiest structure of a will is a ?holographic? or handwritten will, which does not require witnesses or lawyers. A holographic will be written absolutely in the testator's personal handwriting.

Create a title and intros. A straightforward yet important detail to start your will is with a title and introduction. Appoint an executor. Determine guardianship/care of dependents. Assign distribution of assets. List your beneficiaries. Specify funeral and burial instructions. Add residuary clauses. Sign and notarize.

You will also name an executor of your pour-over will. The executor is legally responsible for ensuring that property ends up being owned by the trust ing to the instructions in the will. Your will directs the executor to legally transfers your accounts and property into the trust at your death. How to Use a California Pour-Over Will | San Diego Legacy Law, PC San Diego Legacy Law ? blog ? how-to-use-a-cali... San Diego Legacy Law ? blog ? how-to-use-a-cali...