Legal Question in Wills and Trusts in Utah

Jointly held assets

If 2 people (unmarried and each with separate living trusts) wish to buy an asset jointly, outside of the trusts, and if something happens to one of them, will the other inherit the asset without a will? A joint checking account is controlled by the survivor without any problems and would a jointly held asset be the same case? This asset is not a titled asset but is similar to a stock or investment.


Asked on 12/17/05, 11:54 am

1 Answer from Attorneys
Alvin Lundgren Alvin R. Lundgren, L.C.

Re: Jointly held assets

The asset should have some form of ownership - contact the institution that is holding the asset or which created it and ask them how to title it.

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Answered on 12/17/05, 9:45 pm


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