Virginia-based estate lawyer Scott Alan Flanders opened two legal firms, Flanders & Wade and Northern Virginia Title & Escrow, in 1993. Through his work with both companies, Scott Alan Flanders assists clients with essential estate planning procedures, including drafting revocable trusts and pour-over wills.
Pour-over wills serve as a safeguard for assets that may have been intentionally or mistakenly excluded from an established trust. These types of wills require all assets in an individual’s possession at the time of their passing to be transferred into their trust.
Similar to a traditional trust, these assets come under the control of any named successor trustee. However, a pour-over significantly simplifies the work of the executor, who is relieved of the duty of collecting and distributing assets amongst heirs.
Pour-over wills are legal documents recognized in all 50 states, and are advised for people who may otherwise have to draft complex wills. This includes married couples, people who want the terms of their estate plans to remain private, or people with a large number of minor assets.
Pour-over wills serve as a safeguard for assets that may have been intentionally or mistakenly excluded from an established trust. These types of wills require all assets in an individual’s possession at the time of their passing to be transferred into their trust.
Similar to a traditional trust, these assets come under the control of any named successor trustee. However, a pour-over significantly simplifies the work of the executor, who is relieved of the duty of collecting and distributing assets amongst heirs.
Pour-over wills are legal documents recognized in all 50 states, and are advised for people who may otherwise have to draft complex wills. This includes married couples, people who want the terms of their estate plans to remain private, or people with a large number of minor assets.
