The advantages of a pour over will are that you go about ensuring that the assets get distributed according to the terms of the trust. If you are trying to marshall assets that were left outside of a trust, with the epour over will, you’ve named an executor to handle that process. In conclusion of that process, they are going to transfer the assets to the trustee of the trust.
In situations where we don’t have the pour over will, all the beneficiaries have to sign off on these transfer documents, whether they are filing a small state affidavit and submitting that to the court or financial institutions. We’ve got to send those documents to all of the beneficiaries to sign and submit. It makes for a much smoother easier process to have a pour over will.
Additional Information on Pour Over Wills in Tennessee
If you are going to have a living trust, it is imperative that you also have a pour over will to go with the trust, and that the pour over is consistent. Inconsistency in the documents make it difficult to proceed with a will and forces us to petition the court for instructions on how to proceed, which increases the overall feees to the estate.
For more information on Advantages & Disadvantages Of Pour Over Wills, an initial consultation is your next best step. Get the information and legal answers you are seeking by calling (615) 628-7775 today.