POUR OVER WILL

What happens if John and Jane fail to transfer title to a significant asset into the name of their revocable trust? They lose the three major reasons for creating their trust-management, transferability, and tax savings. To avoid this problem, one technique used is to take the forgotten property and place it into the name of the trust after the death of the last trustor. The asset is literally "poured over" into the trust. The terms of the pour over will specifically allow for this to occur, and indeed, this is the primary (although not the only) reason people execute them.


Areas of Practice

  • Business Formation
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  • Business Planning
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