You Need This Safety Net for Your Estate Plan! The Vital Benefits of a Pour-Over Will
You worked hard for the wealth and assets you own today, and part of estate planning is dictating what happens to that hard work when you’re gone. We often focus on the advantages of establishing trusts to manage money and assets, but what happens when those trusts don’t cover everything you have? This is where a pour-over will comes in. It lets you provide guidance for everything that’s left when the planning is said and done. WHAT IS A POUR-OVER WILL? A pour-over will is a last will and testament that addresses the assets left out of your trust after your death. What happens to small bank accounts that are not titled to your trust upon your death? What about assets you acquired late in life and never added to your trust? What happens if you take the house out of your trust for a refinance but forget to put it back in? A pour-over will provides a safety net that
cover all the necessary ground you’re able to while you’re alive. When establishing a living trust, you can draft a pour-over will as well and list the trustee as its executor. This indicates that you want the probate court to move any assets left out of the trust into the trust before the execution of your estate takes place. RELY ON THE GUIDANCE OF AN EXPERIENCED ESTATE PLANNING ATTORNEY A pour-over will allows you to cover your bases should you die unexpectedly or be otherwise unable to update your plan when you acquire new assets. Like other estate planning tools, it comes with layers and nuances that require the careful attention of an estate planning attorney. When you’re ready to ensure your plan is not only thorough but also accurate, we’re here to help. We can make sure your hard work and legacy aren’t in limbo after your death.
moves the assets in question into the trust after you pass away, when it’s too late to make changes to your estate plan.
TYING A POUR-OVER WILL TO YOUR TRUST
Your pour-over will must be tied to a trust in order to be effective. It’s important to set up a pour-over will with your trust and
Tasty Apple Pie
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Just like Grandma made!
Ingredients • 2 9-inch unbaked pie crusts • 6 cups thinly sliced peeled apples • 1 tsp cinnamon
can create a precious gift for your children, grandchildren, and other loved ones that will preserve your memory for decades to come.
• 3/4 cup granulated sugar • 2 tbsp all-purpose flour • 2 tbsp butter
“Always do your best. What you plant now, you will harvest later.” –Og Mandino
Directions 1. Preheat oven to 425 F. 2. Place 1 pie crust in a 9-inch pie plate.
3. In a large bowl, combine apples, cinnamon, sugar, and flour. 4. Spoon mixture into pastry-lined pie plate and dot with butter. 5. Cut remaining crust into 1/2-inch-wide strips, then arrange strips in a lattice design over top of pie. 6. Trim, seal, and flute edges. 7. Bake for 35 minutes or until crust is golden brown and filling is bubbly.
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