When you have a living trust do you need a will
The second document in the plan is called a "pour-over" will. Why do you need a will if you have a trust? The trust can only affect property that is specifically transferred to it. The will acts on any property that is not transferred to the trust. The will provides for collection of that property, payment of Probate expenses, and transfer of whatever is left to the trust. In effect, whatever is left in the Probate estate "pours over" into the trust and is then administered according to the terms of the trust. The will can also name guardians for minor children and can address other matters that do not relate only to "assets."
Why have a will that does nothing but transfer propertyto your trust? (For that matter, why do you need a will at all if you’re usinga living trust to leave your property?) The answer is that many estate plannersthink it’s a good idea to have all your assets covered by the terms of just onedocument, the trust document. This arrangement offers several advantages.
Why do you need a will and an estate plan? It may not be fun to think about, but after you’re gone you won't have a say in some pretty important matters unless you let your wishes be known. Who will take care of your children? What will happen to your business, your property, or those valuable heirlooms passed down for generations? How can you reduce the taxes on your estate?