pour-over will
Transfer-on-death bequest
A pour-over will is a will that directs any assets not already in a trust to "pour over" into that trust upon the person's death.
It serves as a safety net, catching property that wasn't transferred to the trust during the person's lifetime: The pour-over will ensured her car and bank account went into the family trust.
Without one, overlooked assets may pass through intestacy rather than according to the trust's terms.
Written proof or legacy
- codicilWill modification document
- probateWill validation proceedings
- executorAppointed estate manager
- testatorOne who makes bequests
decedent · notary · witness · estate planning · attorney · intestate · succession · jurisdiction
Those who inherit
- descendantsThose who come after
- familyRelated people together
- childrenYoung human beings
- spouseMarried partner
relatives · next of kin · legatees · devisees · successors · assigns · progeny · offspring
Modifiable estate planning document
- revocable trustAlterable estate planning instrument
- irrevocable trustUnalterable legal asset structure
- settlorTrust's founding party
- grantorOne who transfers rights
trustee · fiduciary · trust instrument · asset protection · backup device · safety net · catchall
Gift left by will
- legacyWhat's passed down
- deviseCreate through ingenuity
- heirloomInherited family treasure
- heritageInherited cultural legacy
patrimony · birthright · endowment · entailment · transmission · distribution · tangible property · personal effects
testament
Written proof or legacy
testator · decedent · notary · witness · estate planning · attorney · intestate · succession · jurisdiction · administration
heirs
Those who inherit
- descendantsThose who come after
- familyRelated people together
- childrenYoung human beings
spouse · relatives · next of kin · legatees · devisees · successors · assigns · progeny · offspring · kinfolk
living trust
Modifiable estate planning document
- revocable trustAlterable estate planning instrument
- irrevocable trustUnalterable legal asset structure
- settlorTrust's founding party
grantor · trustee · fiduciary · trust instrument · asset protection · backup device · safety net · catchall
bequest
Gift left by will
heritage · patrimony · birthright · endowment · entailment · transmission · distribution · tangible property · personal effects · real property
- estate planningexecutor, trust, beneficiary, probate, trustee
- willstestator, testament, codicil, bequest, codicils
- estate paperstestament, codicil, letters testamentary, death certificate, final decree
- inheritanceinheritance, inheritances, heir, heirs, heiress