What is a pour-over will?
A pour-over will is an important estate planning tool used in Elder Law in California. It is used to ensure that all of a person’s assets are transferred into their trust after their death. A pour-over will is created with the help of a lawyer, who will draft the document. It will include the person’s last wishes and instructions for the transfer of any assets that are not already part of the trust at the time of their death. The will is then used to “pour” all of the assets from their estate into the trust. In this way, the pour-over will ensures that all assets are transferred into the trust after a person’s death. This is important for Elder Law purposes, since trusts can provide more control over how assets are distributed after a person’s death. They can also provide protection against estate taxes, creditors, and other issues that may arise. Because a pour-over will is an important estate planning tool, it is important to understand its function and use. It is highly recommended that anyone wishing to create a trust in California consult with an attorney who specializes in Elder Law. An attorney can help ensure that the pour-over will is drafted correctly, and that all assets are transferred into the trust in the event of a person’s death.
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