What is a pour-over will and how does it work?

A pour-over will is a type of estate planning law tool commonly used in the state of Idaho. It is a will that transfers all of a person’s assets at their death, over to a living trust. This is beneficial because it allows the assets to bypass the probate process and go straight to the living trust, which is often simpler and faster. A pour-over will should be used only in conjunction with a living trust. In the will, the person states that they are transferring all of their assets to the trust. When the person dies, their assets are gathered up and “poured over” into the trust. This is done in order to ensure that any assets that were not put into the trust during the person’s lifetime are nevertheless included in the trust after their death. Pour-over wills also give the person an opportunity to name an executor who will oversee the transfer of the assets. The executor is responsible for locating all the assets, taking an inventory, and transferring them into the trust. Of course, the executor will be required to follow the law and ensure that all the assets are properly transferred. Pour-over wills can be an effective way to ensure that all of a person’s assets are transferred into a living trust at their death. It can help simplify and speed up the process of transferring assets and help to avoid costly and time-consuming probate court proceedings.

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What is a pour-over will and how does it work?

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