Posted on: 13th Feb, 2007 11:32 am
what is a pour over will?
Hi Rac,
Welcome to Mortgagefit discussion board.
If there is a living trust and any new property is acquired by the grantor after the trust is created then a pour-over will is required.
It is used to distribute such property or any other property which was not included into the trust when it was created to the existing trust.
Do let me know if you have any other questions.
Thanks
Blue
Welcome to Mortgagefit discussion board.
If there is a living trust and any new property is acquired by the grantor after the trust is created then a pour-over will is required.
It is used to distribute such property or any other property which was not included into the trust when it was created to the existing trust.
Do let me know if you have any other questions.
Thanks
Blue
is it that a pour over will not require probate as there is also a living trust..thanks for the help
No Rac, having a living trust does not affect the property which is not part of the trust. The pour-over will like any other will is required to go through the probate process. At the time of probate the property as described in the pour-over will would pass into the trust. It would then be distributed as per the terms of the trust.
Colin
Colin