Probate in Real Eatate

I've had a number of questions on Probates that students are finding and what they should do.

Probate, simply put, is the process set up by the legislature and carried out by the court which provides for the transfer and management of the property of a deceased, incapacitated, or minor person. Probate becomes necessary when an owner of property is unable to manage their own assets, such as when a person dies, becomes incapacitated, or is a minor. In such circumstances, unless appropriate planning is done in advance, the court will be required to appoint someone with legal capacity to act in the place of the deceased, incapacitated, or minor person.

The word “probate” often sends a chill up people’s spines. There is no need for this. The probate process in Utah has been improved and should not be feared. Notwithstanding the improvements to the system under Utah law, probate still poses some significant issues that most would likely prefer to avoid. In addition, probates are done by jurisdiction. So even though a probate in Utah alone might pose no significant problem, probates might occur in multiple jurisdictions depending on where assets are located.
Probate at Death:

In a Probate at death, a petition is filed with the probate court for the appointment of a Personal Representative (formerly called an executor) and the admission of a will (if there is one.) Notice is given to interested parties. If no objection is made to the petition, the individual is appointed as the Personal Representative of the deceased person and the will admitted to probate. Under the direction of the probate court, the Personal Representative then gathers the assets, inventories them, pays creditors, and distributes the assets to the appropriate parties.

Randy Bailiff
Dean Graziosi Real Estate Investment and Life Coach