A Pour-Over Will is a device often used in conjunction with a living trust to transfer the remaining assets of an individual over to their living trust upon that individual’s death.
If a person has a robust, well planned living trust, the assets covered by a pour-over will will be minimal and will be moved to the trustee or trustees of the living trust. It essentially “fills in the cracks” for any individual assets that could not be included, for legal or personal reasons, into a living trust. Additionally, a pour-over will, in conjunction with a living trust, gives the individual greater privacy as the contents of a will can be public information but the details of a living trust will remain private.
Any details included in a pour-over will are subject to probate, so it is important that a person’s most valuable assets be included in the living trust rather than be subject to the pour-over will.