In California, a pour-over will account for all your possessions and assets that aren’t part of or moved into your living trust. A Pasadena last will and testament lawyer at Barilari & Williams can create a pour-over will on your behalf.
When someone passes away in California with merely a last will as their estate plan, their assets must go through probate before being distributed to their beneficiaries.
What Are the Benefits of Pour-Over Wills?
However, the balance of your assets and properties might be transferred to your revocable living trust at the time of your death if you’ve created a pour-over will. This would spare your beneficiaries from the time-consuming and costly probate procedure.
In addition to allocating personal property, a pour-over will might choose a guardian for your young kid or children. Pour-over wills must adhere to the same laws that apply to all other wills in California. Among them are, but not restricted to:
1. A minimum age of 18 is required.
You also need to be “of sound mind.”
3. Your will must be willingly and freely formed.
4. You must have a written, printed copy of your will.
What Is the Effectiveness of Pour-Over Wills?
Ideally, the barrister who created your revocable living trust should also create your pour-over will. By doing this, it is made sure that there are no legal inconsistencies between the two papers.
Your wish for your personal property to pour into your revocable living trust must be stated in a pour-over will. You may only pour through your possessions. Assets held by another trust, joint-tenancy real estate, and Accounts with Pay on Death do not flow over.
You must choose an executor for your pour-over will, someone you can trust. An executor will be responsible for finding your assets and transferring them into your revocable living trust at the time of your passing. The duties of your executor should be specified in your pour-over will.
A pour-over might not be appropriate for your beneficiaries if they reside abroad or are not American citizens. An estate planning lawyer should analyze the situation and advise you on options and alternatives.
Let Williams & Barilari Compile the documents for your estate plan.
A Southern California last will lawyer at Barilari & Williams may examine your estate, talk to you about your objectives and intentions, and then draft a pour-over will and revocable living trust and an on your behalf. The firm has offices in Long Beach and Pasadena.
Your initial appointment with an estate planning lawyer at Barilari & Williams is free if you want to learn more about pour-over wills and revocable living trusts or start the estate planning procedure.
For our clients in Southern California, our attorneys have more than a decade of combined expertise drafting solid wills and trusts and providing reliable estate planning guidance. To arrange your free initial consultation, call us right away at 888-EST-PLAN.