What is a pour-over trust?

A pour-over trust is an estate-planning tool used in Florida that helps move assets from one trust to another. It is a type of trust that allows a person to transfer assets from one trust to another, usually from a revocable trust (also called a “living trust”) to an irrevocable trust. The assets held in the revocable trust are “poured over” into the irrevocable trust, hence the name. In Florida, pour-over trusts are often used to transfer assets into an irrevocable trust in order to help protect those assets from creditors and to reduce estate taxes. The assets placed into the irrevocable trust can also be used to provide for a person’s spouse, children, or other beneficiaries after the person’s death. Creating a pour-over trust requires consulting an experienced estate planning attorney who understands wills and probate law in Florida. The attorney can help explain the process and help ensure that the trust is properly and legally established. This type of trust must also be properly funded and the assets must be transferred correctly to ensure that the desired tax, legal, and estate planning goals are met. Without careful planning and legal advice, pour-over trusts can be complicated and difficult to manage. However, with the help of a qualified estate planning attorney, a pour-over trust can be used as an effective way to protect assets and provide for your loved ones.

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What is a pour-over trust?

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