pour over will


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pour over will

n. a will of a person who has already executed a trust in which all property is designated to be distributed or managed upon the death of the person whose possessions are in trust, leaving all property to the trust. A pour over will is a protection which is intended to guarantee that any assets which somehow were not included in the trust become assets of the trust upon the party's death. A pour over will often provides that if the trust is invalid in whole or in part, the distribution under the will must be made under the same terms as stated in the invalid trust. (See: will, trust)

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Attorney Guthrie's presentation was scheduled to cover the core fundamentals of planning an estate include what an estate and assets are, the difference between probate and non-probate assets, how the probate court system works, the different types of documents that are involved in planning including last wills and testaments, living trusts, pour over wills, powers of attorney, and advance directives, how to plan for incapacity and difficult end of life healthcare decisions, mistakes in planning that commonly occur, and a comprehensive list of items that need to be put together to make sure a plan is properly concluded.