Tax Facts

L—Pour-Over Will

The “pour-over will” is typically executed at the same time as the revocable living trust (RLT). As a last will and testament, the essential functions of this document include:

|

  • Providing for payment of obligations, expenses, and taxes not paid by the RLT (i.e., to clear the estate of creditor claims).

  • Transferring tangible personal property.

  • Naming guardians of minor children.

  • Functioning as a “fail-safe” device.

Tax Facts Premium Tools
Calculators
100+ calculators specifically designed to help you easily assist clients with specific planning situations and calculations.
Practice Guidance
Designed to help you discover new ways for which to build and maintain client relationships.
Concepts Illustrated
Specifically designed to help you easily assist clients with specific planning situations and calculations.
Tax Facts Archives
Access to the entire library of Tax Facts dating back to 2012 allowing you to look up the exact tax figures from prior years.