What is a Pour-Over Will in NV?
A pour-over will is a legal document used in conjunction with a living trust. It ensures that an individual’s remaining assets will automatically transfer to a previously made trust after death. A pour-over will in NV is helpful when the grantor of a trust forgets to transfer all of their property into their trust. Carlson & Work’s Reno Sparks estate planning attorneys can help you establish a pour over will to go along with your estate plan.
What Does it Do?
- Directs the disbursement of your property that has not been included in your trust.
- Act as a backstop against problems that could complicate the process of your trust.
- Ensure that your assets end up in your trust.
- Provide extra protection against legal issues with your trust.
How to Implement it?
In a pour-over will, you should name a residual beneficiary. This individual will receive your residual estate, that is, your assets that were not included into your trust before you died. You should not list property that you’ve already transferred into your living trust when making a pour-over will. Carlson & Work’s estate planning attorneys can assist you in making a pour over will.
When Would You Want a Pour-Over Will?
A pour-over will is helpful for when you have a living trust and want it to be your primary document for distributing your estate after you have passed away. If you don’t have one and you have assets left out of your trust, then those assets will be treated as if you died without a will.
If you have a living trust and believe that a pour-over will be beneficial to add to your estate plan, contact Carlson & Work of Reno, Nevada today at 775-386-2226. Our qualified estate planning attorneys can help.