Preserving & Protecting Your Family’s Assets & Legacy

Do I need a pour-over will in New York?

by | Apr 1, 2024 | Estate Planning |

Creating an estate plan can be arduous based on what tools you include according to your estate’s details. If you plan to establish a living trust, it can work in tandem with a specific type of will — a pour-over will. This estate planning tool can be beneficial to safeguard all your assets during and after your trust’s establishment, including residual properties left out of the trust.

How does it work?

These pour-over wills have a specific function: strategically covering residual assets and directing them into the grantor’s trust after their death. Some people consider it unnecessary, but it can be a safety net for someone facing severe delays in transferring assets into their trust. If they suddenly pass on with assets left out of the trust, the pour-over will can help complete the funding and protect their ultimate wishes.

Do I need one?

If you have a living trust, drafting a pour-over well can provide additional security, especially if you intentionally left assets out of the trust.

Whatever reasons you may have for doing so, this document can help deal with these assets, making them subject to the trust’s terms and conditions. Still, this type of will may only apply based on the situation and the grantor’s circumstances.

Knowing if a pour-over will is appropriate

There are no specific guidelines for determining whether you need a pour-over will in your estate plan. In these instances, seeking legal guidance can help you learn whether it is appropriate.

Additionally, valuable insight into your situation can help you strategize, using a combination of various estate planning tools to maximize your estate plan. A comprehensive and effective plan can also benefit your surviving family members or loved ones, helping them enforce carry out  your wishes regarding your estate after your death.


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