Detailed Answer
Intestate Succession
When someone dies without a will in Utah, the probate court applies Utah’s intestacy laws to distribute assets. Under Utah Code §75-2-102, heirs at law inherit by relationship. If an heir is a minor, the court safeguards their share through a guardian or custodian.
Guardian of the Estate
Utah Code §75-2-501 authorizes the appointment of a guardian for a minor’s estate. The guardian manages, invests and protects inheritance until the child turns 18. They must post a bond under §75-2-502 and file annual accountings with the court. This oversight prevents mismanagement and ensures transparency.
Uniform Transfers to Minors Act (UTMA)
Utah’s UTMA account provides a streamlined option. Under Utah Code §75-5-401 through §75-5-407, a custodian holds assets for the minor. UTMA accounts allow transfers up to statutory limits without formal guardianship. The custodian invests funds, files an annual report, and transfers the property when the beneficiary reaches age 21.
Testamentary Trusts in Probate
Even without a will, the court can establish a testamentary trust for minors under Utah Code §75-6-101. A trustee distributes assets per court order—staggered distributions, education expenses or discretionary payments. Trusts offer customized protection beyond standard guardianship or UTMA accounts.
Disclaimer: This article is for educational purposes only. It does not constitute legal advice. Consult a licensed attorney in Utah to discuss your specific situation.
Helpful Hints
- File a guardianship petition promptly to secure a court-appointed estate guardian.
- Consider a UTMA account for smaller inheritances to reduce court involvement.
- Review bonding requirements under Utah Code §75-2-502 before appointing a guardian.
- Maintain detailed records and file annual accountings or reports timely.
- Discuss trust options with an attorney to customize distribution schedules.