What is a pour-over will?
A pour-over will is a tool used in trust and estate law in Texas. It is a document that states your wishes for how you would like your possessions to be distributed after your death. The will specifies who will receive your assets and how they will be distributed. In essence, a pour-over will works as a safety net for any assets that may not have been transferred to a trust prior to your death. Anything that was not transferred to the trust prior to death will be "poured" or transferred to the trust after death. This ensures that all of your assets are distributed according to your wishes. The pour-over will is typically used when someone has an existing trust, but some assets may still need to be transferred or "poured" into the trust. The will specifies who will receive those assets after the death of the creator. This is different from a stand-alone will, which stands alone as a separate document and is not connected to a trust. A pour-over will is an important tool for estate planning in Texas. It can provide assurance that all of your assets are distributed according to your wishes, even if they were not all transferred to a trust prior to your death. It is important to create a pour-over will and trust that is appropriate for your needs and updated regularly.
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