Convert To Text Legal Indiana Pour Over Will Forms For Free

The major disadvantage of pour-over wills is that unlike living trusts, all assets that go through wills of any kind may be subject to probate. This means that using a pour-over will make at least some of your estate likely to require the very probate you've attempted to avoid when you created a living trust.

In order for a will to be considered valid under Indiana law, the testator must be at least 18 years old, have testamentary capacity (be of sound mind), and freely sign the will in front of two witnesses. Additionally, the will must be written or printed in order to be legally binding.

Do I Need to Have My Will Notarized? No, in Indiana, you do not need to notarize your will to make it legal. However, Indiana allows you to make your will "self-proving." A self-proving will speeds up probate because the court can accept the will without contacting the witnesses who signed it.

A Pour Over Will can be a saving grace if you forgot to (or are unable to, or choose not to) move assets into your Trust while you're still alive. If everything you own is already in a Trust, a Pour Over Will may not be necessary. However, it can be a great safeguard and tool that you may want to consider.

The major disadvantages that are associated with trusts are their perceived irrevocability, the loss of control over assets that are put into trust and their costs. In fact trusts can be made revocable, but this generally has negative consequences in respect of tax, estate duty, asset protection and stamp duty.

The key disadvantages of placing a house in a trust include the following: Extra paperwork: Moving property in a trust requires the house owner to transfer the asset's legal title. This involves preparing and signing an additional deed, and some people may consider this cumbersome.