A pour over will is a type of will that is used in conjunction with a trust. This kind of will “pours” any property the deceased still owned at the time of death into the trust that the person set up during his or her life.
In Raleigh, North Carolina, there are several advantages to a pour over will. Often, it is not practical to transfer all of your property into trust during your lifetime. Having a pour over will ensures that the property that did not belong to the trust during your life will make it into the trust after your death. This prevents your property from being distributed in a manner outside of your trust provisions. In other situations, you may have forgotten to transfer property into the trust. The pour over will covers that property, so that it makes it into trust, even if forgotten about. If a person creates a trust, but dies without a will, that property that was intentionally or accidentally left out of the trust will pass intestate. This means that state laws will determine where the property goes. This may not always line up with the trust provisions, and may go against the decedent’s wishes. A pour over will can prevent this from happening. If you want to know more about a pour-over-will and its relationship with a trust or a will with a testamentary trust, we would be happy to discuss a detailed estate plan with you.
The Law Corner Attorneys help people all over Wake County to include the following areas: Knightdale, Wake Forest, Raleigh, Morrisville, Apex, Wendell, Zebulon, New Hope, Cary, Rolesville, Fuquay-Varina, Holly Springs, and Garner.