Pourover Will

 If I have a Living Trust, do I still need a Will?

Yes.  You should sign a “Pourover Will” along with your Living Trust.  The Pourover Will is a back-up for any property not transferred to the Living Trust.

Without a Pourover Will, any property acquired after you set up your Living Trust that inadvertently is listed in your name rather than in the name of your trust would normally pass according to the terms of your Will, not your Living Trust.

But, if you have a Pourover Will, the property will be distributed according to the terms of your trust.

If you have young children, you can use your Will to nominate a guardian for your children if both you and the other parent die or are unable to care for your minor children.

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This is for information only and not the providing of legal or tax services.  You should consult with a lawyer or income tax professional prior to setting up any will or trust.  

Harrison K. Long – Business Solutions and Advisory – REALTOR® and broker associate, Coldwell Banker Residential Brokerage – 949-854-7747  (phone) – CADRE 01410855 – ExploreProperties@gmail.com (email) –  www.OCPropertyNews.com  –  www.CostaMesaLive.com  –  www.Irvine-homevalues.com  –  www.NewportCoastLive.com   –  www.CoastLivinghomes.com  –  www.OCHomeValueGuide.com –  www.LiveAtIrvine.com  –  www.ExploreOCHomes.com  –  www.LiveAtOrangeCounty.com –  www.IrvineBestValues.com

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