Estate Law

Estate Law Questions? Ask an Estate Lawyer.

Ask a Lawyer, Get an Answer ASAP!

Pour Over Will Related Questions

Individuals considering a pour over will or who are dealing with the execution of a pour over will have many questions throughout the whole process. Reservations of what is covered in a pour over will or who pays for the probate costs of a pour over will often lead to questions like the ones answered below.

In a pour over will within the trust, do items such as autos, jewelry and such have to be itemized or does it mean anything not specifically covered by the trust ?

Pour over wills are not part of a trust. They are separate and are not used if the trust is paid for with all property that normally would have been probated if it weren’t in the trust. A pour over will is a safeguard that is in place in case something might have been left out of trust and needs to pass through the probate process. If that happens, then the will goes through probate and those assets that were left out of the trust are “poured-over” into the trust to be given out.

In California, what is the difference between a pour over will and a living trust?

Wills and trusts are similar in that they both can be used to give a way for distribution of your estate when you die. A trust is a way to prepare for a person (trustee) to hold legal title to property for another person (beneficiary). A trustee can also be the beneficiary, which would give that individual full control over the property held in the trust.

A pour over will differs in that it names the beneficiary the testator’s living trust. Pour over wills simply act as a safety net for any assets that need to be transferred to the trust (that previously were not included) so that they may be distributed per the trust’s plan.

Who pays the probate costs of a pour-over will, and how much will it cost to probate one piece of property? It was ordered by the court in a divorce agreement to leave the property to their 4 children and leave it in their will. Instead in the trust it said "otherwise disposed of"

Typically the individual who died pays the probate cost through their estate. If the one property was not funded to the trust, then the property could be responsible for the costs of probate. An exception would be if there was a provision in the trust to pay for property that wasn’t funded during the testator’s life. The cost of probate would depend on the worth of the property. California lists the costs as:
  4% on the first $15,000
  3% on the next $85,000
  2% on the next $900,000
  1% on the next $9,000,000
  ½% on the next $15,000,000
  “Reasonable” compensation on the excess over $25,000,000   

My mother-in-law had a trust with a pour over will. My sister-in-law was listed as sole trustee. She listed all bank accounts, but my husband was named as pod on her money market acct. She is suing him saying that the money market was part of the trust. Who does the money belong to?

The money rightfully belongs to your husband. POD means payable on death. It immediately transfers to your husband. Even though the trust listed all of her accounts that alone would not be enough to transfer ownership from your mother-in-law to the trust. She would have had to transfer the ownership.

After making a Living Trust, with immediate plans to fund it, does California law (where the real estate is) or Idaho law (where the trust owner and trustee are legal residents) require a pour over will dated before a new will, or can a pour-over will be added to a pre-existing will?

You can create a new will or you can add a pour over will as a codicil to the existing will. Adding codicils to an existing will can be tricky in the way that if it happens to conflict with any portion of the original will a judge will need to decide which would take priority. If a judge decides then it may not necessarily be what the testator had in mind. If you create a new pour over will then there would be no conflicts and a judge would not have to decide.

Having correct information and a clear understanding of a pour over will can help when dealing with questions about a pour over will. Experts can help answer what the difference is between a pour over will and a living trust or what a pour over will covers. Get the answers fast and affordably by asking an Expert.
Please type your question in the field below

3 verified Estate Lawyers are online now

Estate Lawyers on JustAnswer are verified through an extensive 8-step process including screening of licenses, certifications, education and/or employment. Learn more

Online
Thomas McJD

Attorney

Doctoral Degree

★★★★★
3170 positive reviews
Online
Barrister

Attorney

Doctoral Degree

★★★★★
5351 positive reviews
Online
Infolawyer

Attorney

Doctoral Degree

★★★★★
5005 positive reviews
See all Estate Lawyers
JustAnswer in the news:
Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.
Web sites like justanswer.com/legal
...leave nothing to chance.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.