A Pour-Over Will is a legal document that directs the distribution of assets into a trust upon the individual’s death. This type of will is particularly useful for individuals who have established a living trust but wish to ensure that any remaining assets not included in the trust are transferred to it upon their passing. Below are three practical examples of Pour-Over Will templates specifically designed for New Jersey.
In New Jersey, individuals may use a basic Pour-Over Will to ensure that all assets are transferred into their living trust. This template is ideal for those who have minimal assets outside of their trust.
This Pour-Over Will can be utilized when an individual wants to simplify their estate planning, ensuring that all belongings are consolidated into the trust, which will handle the distribution according to their wishes.
LAST WILL AND TESTAMENT OF [YOUR NAME]
I, [Your Name], residing at [Your Address], declare this to be my Last Will and Testament.
I hereby revoke all prior Wills and Codicils.
I direct that upon my death, all my remaining assets, whether real or personal, be transferred into my previously established [NAME OF LIVING TRUST] dated [DATE OF TRUST].
In the event that the trust is not in existence at the time of my death, I direct that my assets be distributed according to the terms of my trust, as if it were in existence.
I appoint [TRUSTEE NAME] as the executor of my estate.
IN WITNESS WHEREOF, I have hereunto set my hand this [DATE].
[Your Signature]
Notes: Make sure to name the trust accurately and keep it updated. It may be beneficial to consult with an attorney to ensure that your Pour-Over Will and trust align with your estate planning goals.
This template is tailored for individuals in blended families who want to ensure that their assets are distributed fairly among all children, biological and stepchildren, through their living trust. This is particularly important to avoid conflicts and ensure everyone is taken care of.
Using this template, individuals can specify how the trust should operate upon their death, providing clarity and reducing potential disputes.
LAST WILL AND TESTAMENT OF [YOUR NAME]
I, [Your Name], residing at [Your Address], declare this to be my Last Will and Testament.
I hereby revoke all prior Wills and Codicils.
I direct that upon my death, all my remaining assets be transferred to my previously established trust, [NAME OF LIVING TRUST] dated [DATE OF TRUST], to be distributed as follows:
1. To my biological children: [NAMES] shall receive [SPECIFIC ASSETS OR PERCENTAGE].
2. To my stepchildren: [NAMES] shall receive [SPECIFIC ASSETS OR PERCENTAGE].
I appoint [TRUSTEE NAME] as the executor of my estate.
IN WITNESS WHEREOF, I have hereunto set my hand this [DATE].
[Your Signature]
Notes: It may be wise to discuss your wishes with your family ahead of time to ensure everyone understands the intentions behind your estate plan. Consulting with an estate planning attorney can also help in addressing specific family dynamics.
This Pour-Over Will template includes specific bequests for personal items or sentimental assets, ensuring that certain items are distributed according to the decedent’s wishes before the remaining assets are transferred to the trust.
This template is useful for individuals who have particular items they wish to pass on to specific individuals, while still utilizing a trust for the bulk of their estate.
LAST WILL AND TESTAMENT OF [YOUR NAME]
I, [Your Name], residing at [Your Address], declare this to be my Last Will and Testament.
I hereby revoke all prior Wills and Codicils.
I direct that upon my death, the following specific bequests are to be fulfilled:
1. [ITEM] to [NAME].
2. [ITEM] to [NAME].
All remaining assets shall be transferred to my living trust, [NAME OF LIVING TRUST] dated [DATE OF TRUST].
I appoint [TRUSTEE NAME] as the executor of my estate.
IN WITNESS WHEREOF, I have hereunto set my hand this [DATE].
[Your Signature]
Notes: When listing specific bequests, be clear about the item and the recipient to avoid ambiguity. It’s also advisable to review this will periodically, especially if you acquire new personal property or make changes to your living trust.