When dealing with wills, trusts and other aspects of estate planning, it is important to speak with an experienced attorney. We at The Prince Law Firm in Bloomfield Hills, Michigan, have years of experience handling estate planning matters, including providing advice and guidance related to a pour-over will.
Our firm can assess your situation and determine if a pour over will is needed. Contact us to schedule an initial consultation with an experienced estate planning lawyer.
What Is A Pour-Over Will?
As a testamentary document, a pour-over will is created after the writer of the will (the testator) has created a trust and detailed in the will that any property held by his or her estate at the time of his or her death is placed into that trust.
It is important to note the testator's estate may be subject to probate until the pour-over clause is applied. Though the trust in which the assets and property pour into must be created during the testator's lifetime, the trust may be completely funded after the person's death.
When Is A Pour-Over Will Needed?
If you have property or assets that have not been previously placed in a trust, you may benefit from a pour over will. With a pour over will in place, your property and assets will pour into a previously established trust and therefore be protected, even without direct specification that they be placed in a trust.
Contact An Estate Planning Attorney
A pour-over will or pour-over clause in a will is just one way in which your assets and property may be protected. To establish a comprehensive last will and testament or estate plan based upon your needs and wishes for protection of your assets, call 248-419-1968 or e-mail our firm to schedule an appointment with a member of our legal team.