“Adult” means an individual who is 21 years of age or older.
Need help with a review of a will? Have it reviewed by a lawyer, get answers to your questions and move forward with confidence. Connect with a lawyer now
Terms Used In Utah Code 75-5a-102
Administrator: includes "executor" when the subject matter justifies the use. See Utah Code 68-3-12.5
Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
State: when applied to the different parts of the United States, includes a state, district, or territory of the United States. See Utah Code 68-3-12.5
United States: includes each state, district, and territory of the United States of America. See Utah Code 68-3-12.5
(2)
“Benefit plan” means an employer’s plan for the benefit of an employee or partner.
(3)
“Broker” means a person lawfully engaged in the business of effecting transactions in securities or commodities for the person’s own account or for the accounts of others.
(4)
“Conservator” means a person appointed or qualified by a court to act as general, limited, or temporary guardian of a minor’s property or a person legally authorized to perform substantially the same functions.
(5)
“Court” means the probate division of the district court for the county in which the custodian resides.
(6)
“Custodial property” means:
(a)
any interest in property transferred to a custodian under this part; and
(b)
the income from and proceeds of that interest in property.
(7)
“Custodian” means a person so designated under Section 75-5a-110 or a successor or substitute custodian designated under Section 75-5a-119.
(8)
“Financial institution” means a bank, trust company, savings institution, or credit union, chartered and supervised under state or federal law.
(9)
“Legal representative” means an individual’s personal representative or conservator.
(10)
“Member of the minor’s family” means the minor’s parent, stepparent, spouse, grandparent, brother, sister, uncle, or aunt, whether of the whole or half blood or by adoption.
(11)
“Minor” means an individual who is not yet 21 years of age.
(12)
“Person” means an individual, corporation, organization, or other legal entity.
(13)
“Personal representative” means an executor, administrator, successor personal representative, or special administrator of a decedent‘s estate or a person legally authorized to perform substantially the same functions.
(14)
“State” includes any state of the United States, the district of Columbia, the Commonwealth of Puerto Rico, and any territory or possession subject to the legislative authority of the United States.
(15)
“Transfer” means a transaction that creates custodial property under Section 75-5a-110.
(16)
“Transferor” means a person who makes a transfer under this part.
(17)
“Trust company” means a financial institution, corporation, or other legal entity, authorized to exercise general trust powers.
