A pourover will is a will that transfers all the property of the deceased person—known as the testator or decedent—to an existing trust at the testator’s death. The trust is created during the testator’s lifetime and in the trust context the testator is known as the grantor, settlor, or trustor—the person who creates the trust and funds the trust at death with assets “poured over” from the grantor’s will.

For most smaller estates the trust is a revocable living trust that allows the grantor to control the assets and change the trust during the grantor’s lifetime.

A pourover will is designed to avoid the probate process, with the estate assets being distributed to the trust beneficiaries by the trustee of the trust under the terms of the trust provided by the grantor. A pourover will also ensures that any assets the testator failed to add to a trust (accidentally or purposely) are transferred to the trust for distribution—avoiding claims of partial intestacy (no will with respect to the omitted assets), disputes, litigation, and the court-supervised probate or administration process.

In Colorado, a pourover will is a legal document that works in conjunction with a trust—typically a revocable living trust—established by an individual during their lifetime. The purpose of a pourover will is to ensure that any assets not already placed in the trust during the individual's life are transferred into the trust upon their death. This mechanism is designed to simplify the estate administration process and avoid the potentially lengthy and costly probate process. The assets that 'pour over' into the trust are then managed and distributed according to the terms set forth in the trust document by the trustee. This type of estate planning tool helps to maintain privacy, reduce the chance of legal disputes, and ensure that the decedent's wishes are followed even if some assets were not initially funded into the trust. It is important to note that while a pourover will can help avoid probate for assets transferred to the trust, it does not eliminate the need for probate entirely, especially if the decedent owned other assets outside the trust. An attorney can provide specific guidance on creating a pourover will and trust in accordance with Colorado law.