Often when implementing an estate plan in California, the loved one of the deceased will discover that their friend or family member had executed a pour-over will. Pour-over wills are a common type of will used in conjunction with a revocable living trust. The pour-over will serves as a catchall for the estate assets. As a result, if you are in charge of implementing an Orange County estate plan, you may be responsible for carrying out the terms of the pour-over will and directing assets to the trust.
What does a pour-over will accomplish in California? The following is an overview:
- Naming you as executor of the will. Once the pour-over will is admitted to the California probate court, if accepted, you will be officially appointed as executor.
- Naming a guardian for any minor children.
- Distributing personal property such as jewelry, clothing, or furniture if this property is not held in the trust or poured into the trust.
- Paying any stated expenses that are named in the will, such as costs of estate administration, state or federal taxes, or funeral costs.
- Listing your powers in your capacity as an executor.
- Pouring the remaining estate assets into the trust.
Administering a pour-over will in Orange County will typically also involve a trust administration. Our free guide, Understanding the Revocable Living Trust – In Language That Anyone Can Understand in 8 Minutes, provides more information about revocable trusts in California. Our office of experienced Anaheim trust attorneys can offer further guidance. Call us today at (714) 386-1434 for a consultation.
