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Home >> Do You Need a Pour Over Will?

Do You Need a Pour Over Will?

October 29, 2010 by Robert Kulas. Leave a Comment

Did you know that, if you have a Revocable Living Trust, you also need a will? How does this make sense, when a trust is designed to help you avoid probate, and a will is designed to be probated?

The answer lies in the fact that, in order to avoid probate, your Revocable Living Trust has to be fully funded when you pass away. This means that all property owned by you in your individual name must be transferred into your trust. If you pass away with any of this property left out of your trust, the property will have to go through the probate process before ownership of it can be transferred to anyone else.

So, why would anyone leave property out of a Revocable Living Trust? People are constantly acquiring property, and it’s easy to forget to transfer a new asset into your trust. Also, there are situations where a new asset is purchased, and the owner passes away before funding the property into his or her trust. Plus, there are some types of personal property that, for practical reasons, are better owned by you as an individual rather than funded into your trust.

When someone passes away leaving property out of their Revocable Living Trust, that property has to be probated. This is where the pour over will comes in. A pour over will is a special type of will that works in conjunction with a Revocable Living Trust. The will states that any property that’s subject to probate is to be distributed to your trustee, who will then manage and distribute the property according to the terms of your trust. So, the property ultimately ends up where you’ d originally intended for it to go.

If you don’t have a will, then property left out of your trust goes through probate and is distributed according to state intestacy statutes. State law may not send your property to the same place your trust agreement would send it.

A pour over will acts as a catch-all to make sure that, even if your trust is not fully funded when you pass away, your intentions are still honored.

Filed Under: Wills and Trusts Tagged With: pour over will, revocable living trust

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"Everyone treated us extremely well.  Robert explained how a trust works and the benefits of having one.  We decided to move forward and complete the process.  He was very kind and knowledgeable.  Julie was also very helpful and very patient with our questions.  We felt very comfortable with this firm handling our affairs.  We would highly recommend this firm to our friends and family."

Janice M
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August 25, 2020
    

Robert Kulas and staff made making a will an easy to understand process. They were very knowledgeable and attentive to my wishes. All my documents were provided in an organized binder which will be a great asset to my family. I would definitely recommend them.

Krissy L.
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I have worked with Mr. Kulas & staff before. And they are very professional. I am very satisfied with Mr. Kulas and his staff and give them the highest satisfaction and 5 star rating.

Leo C.
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Mr. Kulas and his staff have been extremely helpful & knowledgeable for the over 3 years we have been associated. They are easy to talk to and explain everything without feeling rushed. Very competent and professional.

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I have known Robert Kulas for 20 years since I was co-executor for friends who had Mr. Kulas prepare a Trust for them. When I felt I needed a trust also, I came to him. I have always been completed satisfied with his work and that of his charming, competent staff.

Joan C.
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August 25, 2020
    

We began our estate plan process in 2004 (12 years ago) and have been pleased with the periodic reviews we have gone through and when changes have been needed the firm has been thorough and professional in making those changes.

L.G.K.
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