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Terms Used In Utah Code 75-5-427

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Conservator: means a person who is appointed by a court to manage the estate of a protected person. See Utah Code 75-1-201 v2
  • Contract: A legal written agreement that becomes binding when signed.
  • Court: means any of the courts of record in this state having jurisdiction in matters relating to the affairs of decedents. See Utah Code 75-1-201 v2
  • Estate: includes the property of the decedent, trust, or other person whose affairs are subject to this title as originally constituted and as it exists from time to time during administration. See Utah Code 75-1-201 v2
  • Person: means an individual or an organization. See Utah Code 75-1-201 v2
  • Protected person: means a person for whom a conservator has been appointed. See Utah Code 75-1-201 v2
  • Revocable trust: A trust agreement that can be canceled, rescinded, revoked, or repealed by the grantor (person who establishes the trust).

     In investing the estate, and in selecting assets of the estate for distribution under Subsections 75-5-425(1) and (2), in utilizing powers of revocation or withdrawal available for the support of the protected person, and exercisable by the conservator or the court, the conservator and the court should take into account any known estate plan of the protected person, including his will, any revocable trust of which he is settlor, and any contract, transfer, or joint ownership arrangement with provisions for payment or transfer of benefits or interests at his death to another or others which he may have originated. The conservator may examine the will of the protected person.

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