Pour Over Will Forms

If your estate plan includes a living trust, then a "pour-over" will may help protect your assets by allowing them to become part of that already-existing trust at the time of your death. US Legal Forms has the forms specific to your state which will help you meet your estate planning needs.

Why Do You Need a Pour Over Will?

A pour-over will form is an essential estate planning document when you’ve created a living trust. A trust needs to have assets placed into the trust in order to be distributed according to the terms of the trust by your trustee. The assets are transferred and retitled to the trust in a process called funding the trust. However, people often die leaving assets that haven’t been transferred to the trust for one reason or another. This may be due to having forgotten to convey the assets to the trust, or having assets that were acquired after creating the trust and not getting around to adding them to the trust. Sometimes there’s a defect in the paperwork that invalidates the asset’s transfer to the trust.



It’s very common, if not expected, that a person will die owning newly acquired or overlooked assets that should have been placed in a trust. A pour-over will acts as a safety net that catches these extra assets and “pours” them into the trust. It serves to tie up your legal loose ends, and ensure that your final wishes are carried out properly.

Advantages of a Pour-Over Will

There are various estate planning benefits to having a pour over will. Some of the important advantages of this vital legal document include:

Peace of mind - If you’ve created a living trust, a pour-over will gives you peace of mind because you don’t need to worry about the ability to carry out your final wishes. It avoids having assets inadvertently left out of the trust. A pour over will can ensure that your assets will be distributed as you intended, rather than being distributed to unintended beneficiaries. The assets that belong in your trust will be there to be distributed under the trust instructions, while still allowing you to give specific property outright to heirs named in your will.

Efficiency – A pour-over will can drastically simplify the probate process and save significant delay and expense.

The pour-over will avoids having to ask the court make a decision about how to distribute assets. It prevents doubts about how to handle assets not addressed in the will or already titled to the trust by directing assets into the trust.

It avoids having to rewrite your will or worrying about immediately transferring every new purchase into the trust. You can rest assured that the property will become part of the trust when you die.

Care of minors - If you have minor children, your pour-over will can be used to nominate a guardian for them. Otherwise, it will be mainly up to the court to decide who is to care for the children you leave behind.

Tax savings - Having assets not already titled to the trust able to be conveyed into the trust, rather than becoming part of the probate estate, may reduce tax liability.

Privacy – A living trust isn’t required to be filed in court in the same way a will is. Therefore, the terms of the trust aren’t a matter of public record. When assets are distributed under the terms of a trust, the terms describing who gets what are kept private.

Proper distribution of assets - By having a pour-over will, any assets not specifically bequeathed to a named heir in the will or owned by the trust will be “poured over” into the trust. These assets will then be distributed by the trustee according to the terms of the trust, rather than remaining part of the probate estate and being distributed according to the probate laws. Having a pour-over will protects these assets from staying in the probate estate and being subject to probate rules.

If you die without a will after creating a living trust, any assets not put in the trust will become part of your intestate estate and be distributed according to the state probate laws of intestacy to a spouse and relatives. This can cause assets to wind up in the hands of unintended beneficiaries.

Spendthrift protection- By having assets handled by a trustee, they aren’t required to be distributed immediately. In some instances, you may want to attach conditions to the gift. For example, you may have children that are too young or financially irresponsible to handle a large sum of money. The trust can stay in existence after you die, and the trustee can distribute the property over time in increments, or when the beneficiary reaches a certain age.

Conclusion

If you have a living trust, a pour-over will is a key companion form that you need to have as part of your estate planning. It’s the best way to not only make handling your affairs easier, but also ensure that your final wishes are carried out as desired.

Top Questions about Pour Over Will Forms

  • Why would you want a pour-over will?

    over will offers peace of mind by simplifying the handling of your estate. It ensures that any assets not already in your trust will automatically transfer to it upon your passing. Utilizing Pour Over Will Forms allows you to maintain control and coherence in your estate plan, making it easier for your loved ones during a difficult time.

  • Is a last will and testament the same as a pour-over will?

    While both documents fall under the umbrella of wills, they are not the same. A last will and testament traditionally outlines asset distribution, whereas a pour-over will specifically directs remaining assets into a trust. Using Pour Over Will Forms allows you to ensure that your remaining estate is handled according to your wishes.

  • What is the difference between a will and a pour-over will?

    A traditional will specifies how your assets are to be distributed after your death, while a Pour Over Will Form directs any remaining assets into a trust. Essentially, the pour-over will works in tandem with the trust, ensuring all assets go where they need to. This relationship helps streamline the estate process and clarifies your intentions.

  • What document overrides a will?

    Documents that override a will commonly include trusts and beneficiary designations on financial accounts. When you establish a trust, it takes precedence over a will for managing those specified assets. Ensure you utilize Pour Over Will Forms effectively to link your trust with your will.

  • What are the disadvantages of a pour-over will?

    While Pour Over Will Forms are beneficial, they also have drawbacks. One main drawback is that assets must pass through probate before reaching the trust, leading to potential delays and costs. Additionally, if you do not fund the trust correctly, it can result in unintended distributions.

  • What is the document that amends a will?

    The document used to amend a will is called a codicil. A codicil allows you to make changes to your existing will without having to rewrite the entire document. If this modification involves assets designated in your Pour Over Will Forms, ensure the changes align with your overall estate plan.

  • What documents supersede a will?

    Documents that can override a will include trust agreements, life insurance policies, and retirement account beneficiary designations. When you create a trust, for instance, assets placed in that trust do not fall under the will's jurisdiction. Using Pour Over Will Forms helps integrate your will with any existing trusts.

  • Is there anything that supersedes a will?

    Yes, certain documents and legal agreements can supersede a will. These include trust documents, prenuptial agreements, and certain beneficiary designations. A properly executed Pour Over Will Form can work in conjunction with a trust to ensure that assets are distributed according to your wishes.

  • What is a drawback of a pour-over will?

    One drawback of a pour-over will is that it must go through probate before your assets are transferred to the trust. While Pour Over Will Forms are useful for ensuring that your assets are directed to your trust, the probate process can delay the distribution of these assets to your beneficiaries. Additionally, probate can also involve costs that may reduce the estate's overall value. Despite these drawbacks, many find that the benefits of having a pour-over will outweigh the challenges.

  • Does a will in MN have to be notarized?

    In Minnesota, a will does not necessarily have to be notarized to be valid; however, it is strongly recommended. Using Pour Over Will Forms can simplify this process, ensuring that your intentions are clearly documented. If a will is not notarized, it must be signed by two witnesses to be legally recognized. Having a notarized will provides additional security and can help avoid disputes among heirs.

Tips for Preparing Pour Over Will Forms

  1. The content of your will isn’t set in stone. No matter what changes you deal with in your life, be it marriage, separation, loss of a family member, or health problems, you can always make changes to the last will and testament you drafted and signed. How you need to do that is based on the legislation of each state.
  2. Some states enforce an inheritance tax. This is something you need to consider before preparing Pour Over Will Forms to avoid any legal charges from the IRS in the future. How much beneficiaries are obliged to pay out in estate or inheritance tax is defined by the state you reside in.
  3. Your expectations outlined in the paperwork can be contested. While preparing Pour Over Will Forms, look at the following scenario: if the beneficiaries that you mention in your legal will feel that you disinherited them or assume that you've been tricked into creating it, they might contest it with the court. Other commonly popular grounds for contesting a will are an improperly carried out paperwork or the incapacitation of the testator.
  4. Go over intestacy laws and regulations before drafting a will. Intestacy signifies passing away without leaving a will. This is when the court takes over inheritance matters after your passing away. In case the distribution of assets by your local laws meets your needs, then you can certainly postpone or not make it at all. Nevertheless, to avoid any risks of a family feud or major arguments, it's highly advised to create a will. You can do it and get the needed Pour Over Will Forms online using US Legal Forms, one of the largest libraries of professionally drafted and frequently refreshed state-specific legal paperwork.