Download As Excel Legal South Carolina Pour Over Will Forms For Free

The main difference is in scope. A standard will is intended to account for the entirety of the deceased's estate. They provide instructions for distributing all assets. By comparison, a pour-over will only gives instruction for handling assets not included in the standard will.

There are three requirements for a valid will in South Carolina: It is signed by the will-maker. It must have two witness signatures. It must be notarized by a notary public.

What this means in a nutshell is that South Carolina does not allow a holographic will, which is when a testator handwrites and then signs his or her own will. There must be witnesses, and those witnesses must not be anyone who would benefit from the will. Otherwise, they could be stripped of their beneficiary status.

Assets that should not be used to fund your living trust include: Qualified retirement accounts ? 401ks, IRAs, 403(b)s, qualified annuities. Health saving accounts (HSAs) Medical saving accounts (MSAs) Uniform Transfers to Minors (UTMAs) Uniform Gifts to Minors (UGMAs) Life insurance. Motor vehicles.

over will is a will that is used in conjunction with a living trust. After setting up a living trust, it is important that you transfer your assets into the trust. over will is a will that essentially says 'any assets passing under this will should be transferred to my trust.? It's a back up tool.

The main downside to pour-over wills is that (like all wills), the property that passes through them must go through probate. That means that any property headed toward a living trust may get hung up in probate before it can be distributed by the trust.