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Pour Over Will and Trust

Additional Information:

If the deceased had a pour over will filed in probate and any of this assets that wasn’t put into the trust, would pour over from his estate into the trust? If the estate has a independent representative administering the estate, if the administer doesn’t follow the pour over will and by pass the trust without pour over the estate to the trust. Is that illegal? A trust is business; would it have a EIN number?

ATTORNEY ANSWER:

A decedent’s will only governs those assets which pass through the probate estate. Certain assets such as IRAs and life insurance have listed beneficiaries who would inherit the property directly upon the decedent’s death and not be placed into the trust unless the beneficiary is the estate.

Any assets held under the decedent’s name with no beneficiary designation would have to flow into the trust. However, the administrator would still have to pay the just debts and expenses of the estate before transferring the property to the trust. An administrator must also give the beneficiaries of the estate an inventory and an accounting of the estate. If you are an heir or a beneficiary, you will have an opportunity to object in court to the administrator’s actions.

A trust is not a “business”, but yes, it is assigned an employer identification number (or tax identification number) once it ceases to be a grantor trust for tax purposes.

Margaret L. Cross-Beliveau, Esq., LL.M.

Legal Disclaimer: Please note that this answer does not constitute legal advice, and should not be relied on since each situation is fact specific, and it is impossible to evaluate a legal problem without a comprehensive consultation and review of all the facts and documents at issue. This answer does not create an attorney-client relationship. A lawyer experienced in the subject area and licensed to practice in the jurisdiction should be consulted for legal advice.

The Beliveau Law Group: Massachusetts | Florida | New Hampshire

The attorneys at The Beliveau Law Group provides legal services for estate planning (wills and trusts), Medicaid (planning and applications), probate (estate and trust administration), business law (formation and operation), real estate (residential and commercial), taxation (federal and state), and civil litigation (in connection with these practice areas). The law firm has offices and attorneys in Naples, Florida; Boca Raton, Florida; Danvers, Massachusetts; Waltham, Massachusetts; Quincy, Massachusetts; Manchester, New Hampshire and Salem, New Hampshire.

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