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What is a Pour-Over Will? | Is a Will Necessary if I Have a Trust?
Video by Attorney Kevin O’Flaherty
Article written by Illinois Attorney Kevin O’Flaherty
In this article, we answer the questions, “what is a pour-over will?” and “is a will necessary if I have a trust?” Along the way, we will also answer: “what is a will?”, “what is probate?”, “is probate required if I have a will?”, “should I have a will if I have a revocable living trust?”, and “what is the difference between a pour-over will and a standard will?”
What is a Will?
A will is a legal document whereby the will’s creator (the “testator”) can accomplish the following:
- State his or her wishes as to how his or her assets will be distributed after death;
- Name an executor to administer his or her estate, collect his or her assets, and distribute them to beneficiaries according to the terms of the will; and
- Name a guardian for his or her minor children in the event of his or her death.
For more on this, check out our article: Illinois Wills Explained.
What is Probate?
Probate is a legal case that is sometimes required when an individual passes away in order to distribute the assets of the deceased individual (the “decedent”) to the beneficiaries of his or her will and his or her heirs.
