What is a pour-over will?
A pour-over will is a type of estate planning document used in Florida. It is created in conjunction with a revocable living trust. A pour-over will allows for assets that were not transferred into the trust to be “poured into” the trust after the will maker’s death. It serves as a back-up document and is designed to give the will maker peace of mind knowing that any assets not previously included in the trust will still be managed in accordance with the individual’s wishes. In a pour-over will, the person creating the document must list all of their assets and nominate an executor who will act as trustee of the trust upon death. This executor is responsible for overseeing the pour-over of any remaining assets and ensuring that they are distributed according to the terms of the trust. When an individual passes away, the executor of the pour-over will must inventory the deceased’s property and assets and transfer them into the trust. The executor is then responsible for distributing the assets according to the individual’s wishes. In Florida, a pour-over will must be signed by two witnesses and an attorney, and it must meet certain formalities in order to be legally valid. A pour-over will is an important document to have when creating an estate plan in Florida. It ensures that any assets not already included in the trust will still be allocated according to the decedent’s wishes. It also helps minimize the headaches and delays associated with probate court proceedings.
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