California Pourover Wills

 

POUROVER WILL:  As part of a complete Estate Plan including a Revocable Living Trust, Durable Power of Attorney, Advance Healthcare Directive (Living will), and Pourover Will, a “pourover will” is a will drawn up in conjunction with a Revocable Living Trust.  This will leaves assets which were not part of the trust, or were not “funded” into the trust, to the Revocable Living Trust when you pass away.  The normal types of assets which are not funded into the trust are usually small accounts, such as your day-to-day checking account, and automobiles.  The pourover will also names Guardians for any minor children who may survive your passing away.

People Involved in a Pourover Will:

EXECUTOR: The Executor you named in your Pourover Will carries out your wishes, as set forth in the will.

GUARDIAN:  Guardians act as parents for children under the age of 18.  They raise the children, and are responsible for their day-to-day care.  Once the child is 18 years old, the guardianship ceases.  Guardians also work with the Trustee of your trust with regards to financial needs for the child, also.