Disclaimer: This article is for educational purposes only and does not constitute legal advice. Consult a qualified attorney in Utah to discuss your specific situation.
Detailed Answer
1. Property That Passes Automatically at Death
Under Utah law, certain assets transfer outside of probate by operation of law or contract. Common examples include:
- Joint tenancy with right of survivorship. When one owner dies, ownership automatically vests in the surviving joint tenant. See Utah Code §57-1-3.
- Transfer-on-death deeds. Real estate can be granted a beneficiary who takes title automatically at death under Utah Code §75-2-702.
- Payable-on-death or beneficiary designations. Bank accounts, retirement plans, and life insurance policies often name a beneficiary who receives the proceeds directly.
- Living trusts. Assets titled in a revocable trust avoid probate because the trust agreement specifies distribution after death.
2. Assets Subject to Probate
Not all property passes outside probate. If assets are solely in your name without a beneficiary designation, joint owner, or trust, they must go through probate to transfer title. Common probate assets include:
- Real estate owned solely in your name without a transfer-on-death deed.
- Bank and investment accounts without payable-on-death beneficiaries.
- Personal property such as vehicles, jewelry, and collectibles.
- Business interests or partnership interests not covered by a buy-sell agreement.
3. Why Probate Your Will?
Even if some property passes automatically at death, you still need to probate a will to:
- Validate the will. Probate confirms that the decedent’s will is genuine and was properly executed under Utah Code §75-2-502.
- Appoint a personal representative. The court names an executor or personal representative to oversee estate administration under Utah Code §75-2-301.
- Pay debts and taxes. The personal representative inventories assets, notifies creditors, and files any necessary tax returns before distributing assets.
- Clear title for real property. Lenders, title companies, and county recorders often require probate documents or letters of administration to change ownership in public records.
- Resolve disputes. Probate provides a formal process for beneficiaries or creditors to contest the will or raise claims.
Helpful Hints
- Review your beneficiary designations regularly. Keep them current after major life events.
- Consider a transfer-on-death deed for real estate to avoid probate delays.
- Maintain an updated, properly executed will to guide probate court and your personal representative.
- Use a trust if you own multiple assets and wish to minimize probate entirely.
- Consult an estate planning attorney in Utah to tailor a plan that fits your family and financial situation.