What is the purpose of a pour-over will?

A pour-over will is specifically designed to work in conjunction with a trust. Its primary purpose is to ensure that any assets not already transferred into the trust during the grantor’s lifetime are directed into the trust upon their death. When the individual passes away, the pour-over will acts as a safety net, capturing assets that were not included in the trust and facilitating their transfer into the trust for management and distribution according to its terms.

This serves an important function in estate planning, as it allows for a cohesive management strategy of the grantor’s assets, ensuring that everything is ultimately handled according to the provisions laid out in the trust, rather than through the probate process. Therefore, while other options may serve valid purposes in estate planning, the essence of a pour-over will is in its role of directing remaining assets into a specified trust at the time of death.