What is a Virginia pour over will
A Virginia pour-over will is a type of will that is typically used in conjunction with a trust. In the context of Virginia, a pour-over will is a legal document that directs any assets that are not already in the trust at the time of the grantor’s death to be transferred “poured over” into the trust and be distributed according to the terms of the trust. The pour-over will acts as a safety net to ensure that any assets that were not transferred into the trust during the grantor’s lifetime are still distributed according to the grantor’s wishes.
A pour-over will is often used in conjunction with a revocable living trust, which is a type of trust that allows the grantor to retain control over the assets in the trust while they are alive. By transferring assets into the trust during their lifetime, the grantor can avoid probate and ensure that their assets are distributed according to their wishes upon death.
It’s important to consult with an attorney licensed in Virginia to ensure that the pour-over will is legally binding and complements the trust in a way that meets the specific needs of the grantor.