What is a pour-over will?

A pour-over will is a specific type of will that is primarily used in conjunction with a trust. Upon the death of the testator (the person who makes the will), this type of will essentially directs that any remaining assets not specifically included in the trust at the time of the testator's death be poured over into that trust. This allows for a seamless transition of the assets into the trust, where they can be managed according to the terms laid out in the trust document.

The significance of a pour-over will lies in its role as a safety net for assets that may have been inadvertently left out of the trust. It ensures that all assets are, in effect, covered, and although they’re transferred after death, they are controlled by the terms of the trust which can help to avoid probate and provide for the testator’s wishes efficiently.

In summary, the pour-over will is crucial for anyone who has created a trust, as it helps ensure that any assets not already transferred during their lifetime will still ultimately go to their intended beneficiaries as per the wishes established in the trust.