Pour Over Will: Definition & How It Works | [Your Company Name]
A pour over will is the term used to describe an estate in which all assets are transferred directly into an established trust. When someone creates a pour over will, they are protecting their assets by giving a specific direction to place all assets into a trust. Once the transfer is made, the trust is distributed to the designated beneficiaries.
This type of will is convenient for estate planners who do not wish to place all of their assets into a trust when it is first created. It is also used by those who did not move their estate's assets prior to their death. For example, person may have chosen to set aside some assets, but used the remainder of their assets for their daily needs.
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Securitization Explained: How Assets Become Investable Securities
What Is Securitization? Securitization is the procedure where an issuer designs a marketable financial instrument by merging or pooling various financial assets into one group. The issuer then
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Understanding Trusts: A Guide to Fiduciary Relationships and Asset Protection
What is a Trust? A trust is a fiduciary relationship in which one party, known as a trustor, gives another party, the trustee, the right to hold title to property or assets for the benefit of a
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Executor Timeline: Understanding Asset Distribution Deadlines
Most states do not have a deadline for estate executors to complete probate and distribute assets from a will. The opposite is usually true: the executor cannot distribute assets too soon. If he does,...
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Understanding Living Wills: Planning for Your Healthcare FutureLiving wills have become very popular in recent years. See more death pictures. In the spring of 2005, an American woman named Terri Schiavo, who had been in a coma since 1990, became the cent...