
Testamentary Trust Versus Living Trust- Differences that Can Make a Difference
When a living trust and a "pour over will" are used, they are typically done concurrently. The living trust is created during your lifetime and assests are transfered into it once it is created. A "pour over will" is executed at the same time for the purpose of transfering any assets you own at your death that have not yet been transferred into the living trust. So a "pour over will" is a catch-all. It transfer all of your assets not yet in the living trust, into the trust a