Pour-Over Will

A pour-over will is a type of legal document that is commonly used in estate planning to ensure the proper distribution of assets upon an individual's death. This particular legal template could be a comprehensive document specifically designed for creating a pour-over will.

In essence, a pour-over will functions by naming a trust as the ultimate beneficiary of the individual's estate. It works in conjunction with a revocable living trust, whereby the trust is created during the individual's lifetime to hold and manage their assets. The pour-over will then dictates that any assets not specifically transferred to the trust during the individual's lifetime will be "poured over" into the trust upon their death, ensuring that they are included in the trust's distribution plan.

This legal template is likely to provide a structured and organized framework for individuals to create their pour-over wills. It may include various sections to guide individuals through the process, such as identifying and properly describing assets to be included, selecting a trustee for the trust, determining the beneficiaries, and providing instructions regarding the distribution of assets.

Furthermore, the template may also address contingencies and additional provisions such as guardianship for any minor children, establishing a testamentary trust within the pour-over will, or designating alternate beneficiaries in case the primary beneficiaries are unable to receive the assets.

Ultimately, this pour-over will legal template offers individuals a standardized and efficient way to formulate a legally binding document, ensuring that their assets are protected, distributed according to their wishes, and effectively managed upon their passing.