A living trust and a pour-over will – Two estate planning documents working in tandem

Description

Abstract: Comprehensive estate planning often goes much further than simply having a will. For instance, one can provide for transfers of assets to a living trust (also known as a revocable trust) to supplement the will. For many, the best part of this strategy is that the trust assets don’t have to pass through probate. An additional step can be taken by creating a pour-over will. This article explains how a living trust and a pour-over will work together. A sidebar explains the differences between a revocable and irrevocable trust.