A California Pour-over will is a key part of an estate plan.
I recommend my estate planning clients utilize the pour-over will to prevent assets from getting tied up in probate court.
Purpose of the Pour-Over Will California Form
In most cases, a revocable living trust California form is the best way to transfer assets to your heirs, rather than a will.
This is because a will must be approved, reviewed, and monitored in probate court by a judge, whereas a living trust empowers the trustee to take action without court involvement.
However, the pour-over will California form is used for the limited purpose of correcting the accidental omission of assets from a living trust.
The pour-over will takes any assets that were intended to be controlled by the living trust, but accidentally omitted, and quickly “pours them” back in to the living trust to be disbursed according to the terms of the living trust.
Don’t Let the Court Tax Your Estate
When you use a will to transfer your property to your heirs instead of a living trust, the court “taxes” your estate by way of administration fines and fees, that approximate to about 5% of your estate.
The pour-over will is a small exception, and its purpose is be a quick probate court filing so the judge can sign off on allowing the living trust to handle the omitted property.
In effect, the pour-over will keeps the court out of your business by making sure the living trust you have in place will control any accidentally omitted property, rather than the court overseeing the administration of your property and taxing your estate to pay itself for its efforts.
It’s Time to Get Your Estate Plan in Place
The pour-over will is just one of many crucial documents that a California Estate Planning Attorney can help you put in place so you can efficiently transfer your assets with minimal headache, fines, and fees.