What is a pour-over will?

A pour-over will is a type of legal document used in Trusts and Estates Law in Minnesota. It is an important part of estate planning and is used to transfer assets from the estate of a decedent to their trust. The purpose of the pour-over will is to prevent assets from being passed on outside of the trust. The will ensures that all property owned by the deceased is transferred to the trust, even if the asset was not specifically listed in the trust. This way, all assets are managed according to the terms of the trust. When the decedent dies, the pour-over will moves any property that was not specifically listed in the trust into the trust as “pour-over gifts.” This property is divided according to the terms of the trust. The pour-over will also directs that all estate debts (like taxes and funeral expenses) should be paid from the trust property before it is distributed according to the terms of the will. Pour-over wills can be highly beneficial in Trusts and Estates Law in Minnesota because they allow the decedent to ensure that all of their property is managed according to the terms of their trust. By doing this, they can ensure that their assets are distributed according to their wishes after their death.

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