A pour-over will is a very simple document instructing that any assets you personally own at the time of your death should be transferred to a living trust you have previously created.
A living trust, or a revocable trust, is often used as part of an estate plan. During your lifetime, you can create the trust and transfer ownership of assets to it. You can be the trustee while you’re alive and of sound mind and can name a backup trustee who will take over management of trust assets when you become incapacitated or pass away. Your living trust also includes the names of your beneficiaries.
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