Q: Do I have to itemize assets to go into a pour over will in oregon
A: You will use a Pourover Will when someone who signed a Trust dies leaving an asset in their name alone. You'll need to start a probate with the Court and file the Pourover Will. As part of the probate you will file an Inventory that lists only the assets that are not titled in the Trust, not jointly owned and do not have beneficiaries named. I recommend you hire an experienced probate attorney to assist you.
A: For estate planning purposes, you do not need to specifically identify in a pourover will any assets that will be transferred after death. The pourover will is essentially a back up estate plan. First, all assets except qualified retirement accounts should be placed in trust. Second, if an asset is not placed in trust during the life of the owner, then the pourover will states that upon the owner's death, the asset will be transferred to the now-deceased owner's trust. The pourover will is not effective until the probate court approves it. That can be costly and time consuming, so it is best to make sure all assets are transferred into trust while the owner is alive.
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