How is a Pourover Trust Created in a Will?
Full Question:
Answer:
We assume you are referring to MI-WIL-1459C. In field 37, you are naming the age at which a child is below in order for a trust to be created in the will, by naming the trustee and duties. In field 38, you are specifying the age at which the trustee can begin paying proceeds to the children. In field 39, you specify when the trust ends, according to the age of the youngest child.
Field 40 is where you specify the age at which the grandchild of a deceased child must reach in order for the trust to terminate in the event a child dies before the trust ends and a trust is created on behalf of the child’s heirs. Field 40 deals with the situation where the wife dies first. In that event you may specify that when the youngest child is a certain age, the trust clauses are void and instead the property passes according to the residuary clause in Article 6.
