What is a Pourover Will?
If you have a trust, you may want a pourover will.
A pourover will ensures that any assets that are not already part of your trust when you die are included in it automatically. Without this crucial piece of your estate plan, problems can arise for your heirs if they were expecting to receive these funds. By adding this simple addition to your estate plan, you can avoid some significant problems for your family.
Why Have One
Many people include a living trust as part of their will in order to bypass the probate process when it comes to distributing assets to the beneficiaries of the person who has passed away. Without any additional documentation, if there are any excess funds that aren’t included in the trust, these are then dealt with according to state law. This means that it won’t be as easy to get the money to its intended place, and the end result might not be what you were hoping for.
This is where the pourover will comes in. It’s as simple as having this extra piece of your estate plan to simplify your trust, allowing your loved ones to get by without issue in terms of handling the assets in your trust. If you’re in a situation where certain funds might get left out of your trust at the time of your death, it’s a smart idea to consider adding a pourover will to your plan.
Pourover with Endowl
Luckily, Endowl’s estate planning tool can help you easily add a pourover will to your plan. When you choose a living trust for your assets, especially if you are combining them with a spouse, a pourover will is something that will provide an easy transfer of funds. Avoiding the probate process can be beneficial for many reasons, so having a trust can be a good idea for a lot of people. Attaching a pourover will to your estate plan will allow you to seamlessly pass on your assets to your heirs. Endowl’s platform can help you do this without hassle, as our accessible and easy to use app is designed to provide an unbeatable estate planning experience for you and your loved ones.
Endowl provides the decentralized tools you need to manage the full life cycle of your will. Our app makes it easy to create an estate plan and keep it up to date as life changes, without needing a lawyer. It automates and simplifies each step of creating an accurate estate plan so that it is accessible and affordable to most people.
For more information about Endowl and sign up for our upcoming beta release, please visit us at https://endowl.com.
