Pour-Over Wills

There are many reasons that a person creating their will may choose to create a pour-over will. With this type of situation, a will and trust are created together. At the time of the testator’s death, any of their possessions not already in the trust will be transferred to it – or “poured” in.

Benefits of Pour-Over Wills

Pour-over wills are helpful for some clients, though not necessary for all. The following are a few reasons to consider the use of a pour-over will and trust:

• Increased liquidity, since possessions can be held and not put into a trust, with the guarantee that they will move into the trust upon the testator’s death.

• Convenience, since testators do not need to worry about moving everything into a trust.

• Keeping property from going through probate court, as property is only subject to probate before being poured into the trust.

It is not always difficult to pass property through probate, and in some instances it may be less costly to use a traditional will rather than a pour-over will and trust. Talking with an experienced estate planning lawyer will give you an idea of what will work best for you and your estate.

Contact Us

Estate planning is extremely important and can be complicated. It’s important that you make sure that your estate planning will accomplish what you intend for it to do, so that your loved ones will be cared for in the event of your passing. Although this is something we don’t like to think about, it is best to be prepared. Contact the Houston wills and trusts lawyers of Garg & Associates, P.C., today at 800-242-2151 to discuss your situation.