What is a pour-over will?

A pour-over will is designed to work in conjunction with a trust, typically a revocable living trust, and it specifically facilitates the transfer of the testator's remaining assets into that trust after their death. When the testator passes away, this type of will transfers any assets not already in the trust into the trust, allowing for a smooth transition of assets and ensuring they are distributed according to the terms outlined in the trust.

This mechanism helps to consolidate the management of the testator's assets under the trust's provisions, streamlining the estate settlement process and helping to avoid the delays associated with probate for assets that would otherwise need to go through that process. It is particularly beneficial for individuals who want to ensure that all their assets are managed and distributed according to their wishes as laid out in the trust.

The other choices do not accurately capture the purpose and function of a pour-over will. For example, a will that distributes assets during the testator's life does not explain the posthumous action performed by a pour-over will. Similarly, a guideline for future trusts does not fit within the specific operational context of a pour-over will, nor does a focus on debts and liabilities, as these elements typically pertain to other forms of estate planning