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Terms & Definitions - T-Z

Alphabetical Listing of Utah Estate Planning Terms

A, B-C, D, E-F, G-H, I-J, K-Q, R-S, T-Z

Testamentary Trust:  a testamentary trust is a trust that is established through a last will and testament and becomes effective only after the grantor's death.  Under Utah law, a testamentary trust and governed by the terms of the grantor's will.  A testamentary trust can be used to exert some control over how assets left through a will can be used after the testator's death.  Testamentary trusts are used less frequently now, as living trusts can accomplish most of the purposes of a testamentary trust while still giving the grantor some benefit during the grantor's lifetime.  

Testator:  a person who writes a will, or has a will written for him or her, and executes the will.  Traditionally, the terms "testator" and "testatrix" were used to refer to a male and a female respectively who made a will.  Under the Utah probate code, the term testator is used to refer to a person of either gender.

Trustee:  an individual or other entity named to manage property or assets under the terms of a trust document.  The trustee holds those property or assets for the benefit of another.  Under the Utah probate code, the term "trustee" includes an original trustee, as well as additional trustees, co-trustees, or successor trustees, whether or not appointed or confirmed by the court.

Trust:  a legal form of ownership in which property is held, managed, and used for the benefit of another.  

Ward:  means a person for whom a guardian has been appointed due to reasons of either incapacity or minority.  Under the Utah probate code, a person who is appointed a guardian solely because of minority is considered a "minor ward."  A guardian is considered to be a fiduciary, and owes the accompanying responsibilities and duties of loyalty to the ward.

Will:  as used in the Utah probate code, the term "will" includes both an original will, as well as a codicil or other testamentary instrument which revokes or revises a previous will, appoints an executor, nominates a guardian, or expressly limits or excludes the rights of an individual or class to receive property of the decedent through Utah intestate succession rules.

Finding an Estate Planning Attorney in Utah

Utah Wills Trusts & Estate Planning Attorney Salt LakeWe spend time with each client to understand their individual and family needs and circumstances. This helps us to create an estate plan that is tailored to accomplish each client's goals. A living trust, last will and testament, durable power of attorney, and advance health care directive can play important roles in a comprehensive estate plan. Contact us today to see how we can help you.

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Estate Planning Attorney Wills & Trusts Estate Planning - Setting up a good estate plan requires more than filling out a free online form or downloading software. But a good estate plan does not have to be overly expensive. A good attorney can guide you through the process of determining what estate planning tools are right for you and your family, and then create personalized estate planning documents to protect you and your family, and give you the peace of mind you deserve. Contact us today to start the process of setting up a personalized estate plan.

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Serving Salt Lake, Davis, Weber, Utah, Cache, Tooele, Summit, Box Elder, Morgan, and Wasatch Counties - and all of Utah.

Stephen W. Howard is Utah attorney, practicing as part of the Canyons Law Group, LLC.
With offices in Salt Lake and Davis Counties, we are pleased to provide legal services to clients throughout Utah.
Call 801-449-1409 to arrange for a confidential initial consultation.

Stephen W. Howard, PC

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