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If you have an estate plan that includes a living trust, you may want to look into pairing the trust with a pour-over will. This document is often used to ensure that any things or assets you failed to include in your trust will automatically be transferred over to the trust after you die. This can help ensure that your estate is divided according to your last wishes. 

What Is a Pour-Over Will?

A pour-over will can provide an added layer of protection to an existing living trust by instructing the court to transfer those assets that have been left out of the trust into it upon your death. Moreover, while a pour-over will is still subject to probate, it can aid the estate executor in moving any assets not already in the trust into the trust’s control.

If an individual does not have a pour-over will, any assets that are not included in their trust may be treated as if the individual passed away without a Last Will and Testament. In these instances, the court may end up distributing the assets according to state laws, which could lead to unintended consequences.

Should You Have a Pour-Over Will in Louisiana?

When an individual passes away, not all of their property may automatically transfer to their trust. In some cases, they may have forgotten about certain assets or failed to include them in the trust. However, if these individuals have a pour-over will, the remaining assets can be “poured” into the living trust and ultimately passed on to their chosen beneficiaries. 

The Pros and Cons of a Pour-Over Will

Some of the more common reasons why people create pour-over wills include the following:

  • Simplifies the process of distributing their assets.
  • Trusts are private, which means that if a person wants to keep the details of their asset distribution confidential, the trust can do this.
  • A pour-over will deals with situations where valuable personal property has been forgotten, helping to ensure nothing gets left out.

The Cons of a Pour-Over Will

While a pour-over will may be a great addition to your estate plan, there are some downsides to them:

  • They do not completely avoid probate. As a result, some assets may still have to go through probate.
  • There can be potential delays, primarily when assets get stuck in probate.
  • The probate process can get expensive.

However, for further information about pour-over wills, consider reviewing your options with a skilled and knowledgeable Louisiana estate planning attorney. These legal professionals can help you better understand the benefits a pour-over will can provide you.

Learn More About Pour-Over Wills Today, Contact Losavio & DeJean, LLC

If you are considering creating a pour-over will or want more information about this specific estate planning tool, contact Losavio & DeJean, LLC today. Our skilled legal team can review your situation, go over your particular questions, and assist you in creating a plan that works for you, your loved ones, and your future