A pour-over will leaves your remaining property to the trustee of your living trust. Anything you did not transfer into the trust during life then ends up governed by the trust’s terms. It works as a safety net, not as a replacement for funding the trust.
Here is how a pour-over will works in Colorado and what it can and cannot do.
How a Pour-Over Will Works
Many people who create a living trust also sign a pour-over will. The difference between a will and a trust is the reason: the trust controls assets titled in its name, and the pour-over will catches the rest.
Colorado allows a will to leave property to the trustee of a trust, even if the trust can be amended or revoked or was amended after the will was signed.1
Unless the will says otherwise, the property becomes part of the trust and is administered under the trust’s terms, including amendments made before or after death.2
What a Pour-Over Will Cannot Do
A pour-over will is still a will. Except in limited cases, a will must be admitted to probate, informally or formally, before it is effective to transfer property.3 Assets that pass under the pour-over will go through that process before they reach the trust.
If the trust is revoked or terminated before your death, the gift to it generally lapses unless the will provides an alternative.4
A pour-over will is most useful as a backup to a fully funded trust. Johnson Law Group offers a no-pressure consultation to review your trust and its funding, so schedule a consultation when you update your plan.
Why Funding Your Trust Still Matters
- Retitle accounts and real estate into the trust’s name during your life.
- Coordinate beneficiary designations so they match the plan.
- Review the plan after major changes, such as a move, marriage, or new property.
Other Types of Wills
A pour-over will is one of several kinds of wills. The different types of wills serve different goals, and a testamentary trust is an alternative that creates a trust only at death.
Talk With a Colorado Estate Planning Attorney
A pour-over will protects your plan from gaps, but it depends on a trust that is properly funded. Johnson Law Group is here to help.
The attorneys at Johnson Law Group help clients coordinate wills and trusts and will give you a clear read on your plan. Schedule a free consultation through our Colorado offices, and we will serve as your North Star from here.
Sources
[2] C.R.S. § 15-11-511(2) – Devised property becomes part of the trust and is administered under its terms, including amendments | https://colorado.public.law/statutes/crs_15-11-511
[3] C.R.S. § 15-12-102 – A will must be declared valid by informal probate or adjudication of probate to prove the transfer of property, with listed exceptions | https://colorado.public.law/statutes/crs_15-12-102
[4] C.R.S. § 15-11-511(3) – Revocation or termination of the trust before death causes the devise to lapse unless the will provides otherwise | https://colorado.public.law/statutes/crs_15-11-511