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Distributions · 6 мин чтения
What the words mean in Utah
Utah's intestate division among descendants is per capita at each generation: the estate is divided into as many equal shares as there are surviving descendants in the generation nearest the decedent that contains a surviving descendant and deceased descendants in that generation who left surviving descendants; each survivor in that generation takes one share, and the remaining shares are combined and divided the same way among the next generation (Utah Code § 75-2-106; § 75-2-103). Where a governing instrument says "per stirpes", "by representation" or "by right of representation", the division is made at the children's generation and subdivided down each line; "per capita", "share and share alike" or "to the survivor of them" divides equally among the persons named who are living on the distribution date (§ 75-2-709).
A trust's own words control; the Code's definitions fill the gaps. Where the instrument uses a phrase in an unusual way, or the family's shape has gaps, the reading is a question for a licensed Utah attorney of your choosing.
Discretionary distributions
Where the terms leave distributions to the trustee's discretion, the trustee exercises it in good faith and in accordance with the terms and purposes of the trust and the interests of the beneficiaries, however broad the discretion is expressed (Utah Code § 75B-2-812). A beneficiary's creditor may not compel a discretionary distribution, even where the discretion is expressed as a standard or the trustee has abused it, except a court's order for the support of the beneficiary's child, spouse or former spouse where the trustee has not complied with a standard (§ 75B-2-504); a mandatory distribution the trustee has not made within a reasonable time may be reached (§ 75B-2-506).
Before distributing after a death
On the death of the settlor of a trust that was revocable at the death, the trustee may proceed to distribute the trust property in accordance with the terms and is not liable for doing so unless the trustee knows of a pending contest, or a potential contestant has notified the trustee of a possible proceeding and commences one within 60 days after sending the notification; a contest is commenced within the earlier of three years after the death and 90 days after the trustee sends the person a copy of the instrument and the statute's notice (Utah Code § 75B-2-604). The trustee is liable only for actions taken two or more business days after actual receipt of a written notice sent by registered or certified mail or served as a summons.
Beside the contest window, trustees weigh the trust's liability for the settlor's creditors' claims, the costs of administering the estate and the family's allowances to the extent the probate estate is inadequate (Utah Code § 75B-2-505), the one-year creditor bar and the trustee's own notices (§ 75B-2-509, § 75B-2-508), and a reasonable reserve for debts, expenses and taxes (§ 75B-2-815).
At termination
On a termination or partial termination, the trustee may send the beneficiaries a proposal for distribution; a beneficiary's right to object ends 30 days after the proposal was sent, if the proposal informed the beneficiary of the right to object and of the time allowed (Utah Code § 75B-2-815). The trustee then proceeds expeditiously to distribute, subject to the reserve, and sends the report at termination (§ 75B-2-811(3)). A beneficiary's release of the trustee is invalid to the extent it was induced by improper conduct or the beneficiary did not know of the beneficiary's rights or the material facts.
Законы, дословно
Intestate share of spouse
Utah Code § 75-2-102 ↗Понятное простое объяснение; дословный текст статута ещё не заверен в нашей библиотеке. Смотрите официальный статут по ссылке выше.
Definitions -- Per capita at each generation -- Terms in governing instruments
Utah Code § 75-2-106 ↗Понятное простое объяснение; дословный текст статута ещё не заверен в нашей библиотеке. Смотрите официальный статут по ссылке выше.
Limitation on action contesting validity of revocable trust -- Distribution of trust property
Utah Code § 75B-2-604 ↗Понятное простое объяснение; дословный текст статута ещё не заверен в нашей библиотеке. Смотрите официальный статут по ссылке выше.
Distribution upon termination
Utah Code § 75B-2-815 ↗Понятное простое объяснение; дословный текст статута ещё не заверен в нашей библиотеке. Смотрите официальный статут по ссылке выше.
Частые вопросы
What is Utah's default rule for dividing among descendants?
Per capita at each generation: equal shares at the nearest generation with a survivor, each survivor taking one share and the remaining shares combined and divided the same way among the next generation (Utah Code § 75-2-106).
What does the surviving spouse take without a will in Utah?
The entire intestate estate where no descendant of the decedent survives or every surviving descendant is also the spouse's; otherwise the first $75,000 plus one-half of the balance (Utah Code § 75-2-102).
How long does a beneficiary have to object to a Utah distribution proposal?
Thirty days after the proposal was sent, where the proposal informed the beneficiary of the right to object and of the time allowed (Utah Code § 75B-2-815).
По теме
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