A pourover will is like any other will, except that it has only one primary beneficiary, which is the testator’s living trust.
To schedule a free initial consultation to discuss how a pourover will may help to achieve your goals for asset distribution and value retention, contact a San Francisco attorney at The Evans Law Firm at 415-441-8669 or 888-50-EVANS or email@example.com.
Bay Area Attorneys, Assisting With Setting Up Living Trusts
The pourover will transfers assets to the trust to ensure that these assets will be subject to the distribution plan in the trust and will also receive the benefit of trust’s tax reduction provisions. The pourover will might include other provisions, such as tax allocation clauses. It also revokes prior wills.
If the probate assets add to up to more than $150,000, a probate is required. If the amount does not exceed $150,000, the assets can be transferred to the trust by using declarations as authorized by California Probate Code Section 13100.
Pourover wills also distributes tangible personal property, such as furniture, jewelry, clothing, etc., to the testator’s beneficiaries. It nominates executors and guardians for the testator’s minor children.
Lawyers Advising on Asset Transfer in Oakland and Communities Throughout Bay Area and Southern California
To discuss the benefits and disadvantages of creating a living trust, please call 415-441-8669 or contact our Bay Area lawyers online via e-mail to schedule a free initial consultation. We are happy to schedule appointments at your convenience.