Legal Question in Wills and Trusts in Utah
If someone is either holding assets, or is aware of assets that would belong to the deceased, but the assets are in the holder's name, not the deceased (e.g., no joint tenancy), is the holder legally bound to identify those assets in a probate proceeding (in Utah)? Or, it the option to keep or distribute assets when and how the holder chooses, pre- or post-probate? (Assets under $30,000)
2 Answers from Attorneys
If the assets are in the holder's name, those beong to the holder, and the probate court has no jurisdiction over the assets. One of the main purposes of probate is to clear title to property; if property has already been transferred to another party, the probate has nothing to do with those assets. Call me if you have further questions.
If the assets are legally titled in the holder's name, then the holder will keep them If the holder changed title from the deceased without authorization, the holder has to account for them. If the holder has assets that belonged to the deceased and that were not properly distributed prior to the death of the deceased, the holder must account for them. You may call for a free consutlation.
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