Pour Over Will
The pour over will is a last will and testament that accompanies a living trust. The will provides instructions for any assets outside the living trust. The executors / personal representatives are often the same people named as successor trustees.
To avoid conflict with a previous will's instructions, a new will revokes any prior wills and codicils.
Revoking Prior Wills
I, JOHN A. GREEN, a resident of the County of MARICOPA, State of ARIZONA, do make and declare this to be my Will, and I revoke all my prior Wills and Codicils.
One of the most important functions of estate planning is nominating guardians for dependent children.
Naming Guardians
In the event my wife fails to survive me, I hereby nominate and direct that SALLY S. SMITH be appointed as guardians of the persons and estates of my minor and/or handicapped children. If for any reason SALLY S. SMITH is unable or unwilling to act as such, I nominate LINDA B. GREEN as guardians of the persons and estates of my minor and/or handicapped children. I direct that said guardian(s) serve without being required to furnish bonds of any kind.
If some assets are left outside the trust and have no beneficiaries listed, the pour over will directs these assets to be transferred to the living trust and hence distributed according to the living trust's instructions.
Directing Assets To A Trust
All the rest, residue and remainder of my estate, both real and personal and of whatever kind and wherever situated, including all of my separate property, if any, and my share of the community property of my wife and myself, I give, devise and bequeath to the individual or bank then acting as Trustee under that certain Trust Agreement designated as THE JN GREEN FAMILY LIVING TRUST, signed earlier this day and bearing the same date as this Will, of which my wife and I are the Co-Trustors and the Co-Trustees, to be combined with the other assets of the trust and held, administered and distributed as a part of that trust, according to the terms thereof and any amendments made to it prior to my death. It is my intent, if it be permissible, not to create a separate trust by this Will and not to subject THE JN GREEN FAMILY LIVING TRUST or the property added to it by this Subparagraph (1) to the jurisdiction of the probate court.
If the trust is not operative or invalid, the pour over will might instruct those assets to be distributed according to the terms of the trust.
If A Trust Is Inactive
If for any reason the disposition in Subparagraph (1) is not operative or is invalid, or if the trust referred to in Subparagraph (1) fails or has been revoked, then I give the rest, residue and remainder of my estate, including my share of our community property, to the individual or bank which would have been Trustee of such trust had such trust been operative, valid and unrevoked at my death, to be held, administered and distributed under the terms and conditions of THE JN GREEN FAMILY LIVING TRUST, signed earlier this day and bearing the same date as this Will, which trust is incorporated herein by reference.
