Legal Question in Wills and Trusts in Connecticut
Can tangible personal property be listed in a revocable living trust rather than in its accompanying pour-over will, with a reference to a non-binding memorandum as to the specific disposition of the property? Objective is to provide the trustee latitude to dispose of the assets, but at the same time keep the assets out of the will and so out of probate.
1 Answer from Attorneys
The purpose of the pourover will is to pick up things that either aren't in the trust or if the trust fails for some reason. So, if you're pretty sure the trust is solid, yes, you could put personalty in the trust only and not the will. But why? Property passing by way of the trust is subject to the same estate tax and probate fee as is property passing through the will. And you can give the fiduciary the same latitude in either vehicle. Where's the advantage in keeping it out of probate?
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