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Pour Over Will
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Pour-Over Will Attorney in Grand Rapids
A Pour-Over Will Ensures Any Missed Assets Are Transferred According to Your Trust
When you work with your attorney to create a revocable living trust as a way to transfer assets to your loved ones without the delays and expense of probate, you might feel like you no longer need a will. However, for a variety of reasons, it is still a good idea to have a will to compliment your trust, and the type that works best in many cases is a pour-over will.
Whether you already have a trust or you are in the process of building your estate plan around a trust, Inhulsen Law can prepare a pour-over will that coordinates with your trust and includes any additional safeguards that you may need.
Why You Still Need a Will Even if You Have a Trust
A trust provides a very efficient way to pass property to your loved ones after your death. Instead of waiting for the probate court to approve all the details, your successor trustee can pay your final bills and distribute assets directly to your successor beneficiaries. However, your trustee can only distribute assets that have been properly transferred into the trust.
What if something gets left out? Anything that is not part of the trust or not set up to pass by other means (such as a beneficiary clause) becomes part of your estate. If you don’t have a will, property in your estate passes to others according to the laws of intestate succession. This might result in property being transferred to someone in a way you had not intended. If you had a plan to divide assets among family in a particular manner, the transfer through intestate succession may upset the balance. Even worse, valuable assets could end up with someone you wanted to exclude from your plans.
The way to avoid this problem is to create a pour-over will. That way, any property left out of your trust will still transfer according to your plans.
How a Pour-Over Will Operates
A pour-over will channels any property in your estate into your trust. Then that property will be distributed in accordance with the terms of the trust, keeping your estate plans on track.
In addition, a pour-over will maintains the privacy that you enjoy with a trust-based estate plan. While a pour-over will becomes a matter of public record when it is admitted to probate, the provisions of the will do not reveal any information about your property or the details of bequests. The will simply states that property will be allocated to your trust, and the details remain private.
A Will Can Accomplish Some Tasks That Your Trust Cannot
Another reason it is important to have a will even if you have a trust is that you can use your will to accomplish some goals that cannot be performed through a trust. For instance, if you have minor children, you can nominate a guardian for your children in your will. You cannot make a guardian nomination through a trust.
You Can Still Avoid Probate Even if You Have a Pour-Over Will
Creating a pour-over does not automatically mean your family will be subjected to the costly requirements of the probate process. If your assets are aligned correctly, then they will pass outside of probate, just as you had planned. Or if you have left some assets out of your trust but they are of a value below the limit to trigger probate obligations, then those assets may be eligible to pass through a simplified process.
The pour-over will is created as a safety net to protect you in case an asset is missed or is in the process of being transferred at the wrong time. If probate is required, it will only involve the assets left out of the trust, so it will not hold up the distribution of your other property.
Our Clients Say It Best
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“I have been very impressed with Inhulsen law services. The knowledge and professionalism were invaluable. John explained everything clearly and kept me informed throughout the process. I was very pleased with the successful outcome and learned so much from him. I would highly recommend this place!”- Lourdes B.
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“If you are looking for an attorney who will truly help you build the life you deserve, then look no further Inhulsen Law. As an attorney who has the opportunity to collaborate with John, I can attest to his depth of knowledge as well as his commitment to excellence. Whether you need assistance with the complexities of business formation and planning or building and estate plan to protect the future of your family, John will apply a creative and honest approach that will make you instantly realize you made the right choice hiring Inhulsen Law.”- Joshua S.
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“Fantastic firm, very personable and receptive to what you’re looking for. Listened to my mom and I for her estate planning. Angela was also very attentive to our needs. Have a life long partnership. Thank you both!”- Salty Dog
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“My wife and I had a very positive experience working with Inhulsen Law to update our Will and to put our assets into Living Trusts. The process is very thorough and they take a no-pressure approach to understanding your needs and will give you multiple options, explaining the benefits of each. They use a model where no question is a bad question and will break down what can seem like a complicated process into an easy to understand format. They take a very personal approach to getting to know you and your needs and we never felt rushed, pressured, or confused throughout the whole process. If you want an Attorney who values their clients seeking a long term relationship with you, you should work with Inhulsen Law.”- Curt W.
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“I had an excellent experience working with John on our estate planning. He took the time to explain everything clearly, answered all of our questions, and made what initially felt overwhelming into a smooth and stress-free process. We truly appreciated his attention to detail, professionalism, and ability to tailor the plan to our family’s specific needs. We now feel confident knowing everything is in order. We highly recommend John Inhulsen to anyone looking for a knowledgeable and caring estate planning attorney.”- Becky L.
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“I had John draw up my will and was so impressed with how knowledgeable and kind he and his staff were. The process was thoroughly explained and it is a huge relief to have things settled for my kids. I definitely recommend him and his services!”- Heidi H.
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“Answer to prayer! My husband and I finally decided it was time to put a Trust and Will in place. It was unnerving to think about estate planning because we did not know who to talk to, where to start or what to expect. Thankfully, after searching the internet for a law firm, we discovered Inhulsen Law. We were more than impressed with the outstanding reviews! Setting up an appointment with John was simple and quick. The entire process was explained to us in an uncomplicated way. In our first meeting with John it was apparent to us that he has a genuine interest in building relationships with people and helping them obtain their goals. John's character is stellar and his knowledge of the law is extensive. It feels good to have a law firm you can trust and someone like John you can reach out to and feel confident he will point you in the right direction.”- Lori A.
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“Recently John Inhulsen took time out of his day to call me when I encountered a legal matter over my head. John talked me through it and made me feel so much better about what I was facing. John's professionalism is first tier. Obviously, he knows and understands the legal world, all aspects. I recommend his team highly.”- Ted L.
Inhulsen Law Can Create a Pour-Over Will to Meet Your Specific Needs
To protect and provide for your loved ones, you need a comprehensive estate plan that covers all the bases and includes contingency plans in case a problem arises along the way. A pour-over will provides that type of coverage just in case you need it. If the provisions aren’t needed, they will not impact your other plans. But if they are needed, they will keep your plan in alignment.
At Inhulsen Law, we build plans designed to care for your needs regardless of what may happen in the days to come. To talk to us about preparing a pour-over will or taking other strategic steps to secure your future.
