In a Utah Testament, the testator usually also establishes a personal representative-or co-personal agents (several individuals acting together in this regard) to take care of the estate. A personal representative is an individual who collects all of the information about the decedent’s financial obligations and property, pays any overdue debts using the assets on behalf of the estate, and helps to ensure that the decedent’s property is distributed as specified in the last will, making this a role with a lot of responsibility. The personal agent decided on is normally somebody the will creator genuinely relies on to see through their final will.
Any time a person dies without any legitimate Utah Last Will and Testament (which for most states implies it must be correctly witnessed, not only signed), someone will generally be assigned by the court to be the personal agent and pay the decedent’s financial debt, utilizing assets as necessary to do so. After that, the remaining assets will be shared amongst the decedent’s heirs in line with the laws of the state the decedent resided in.
In some states, when one spouse passes away leaving behind their partner, that living spouse will end up with most of the decedent’s assets without a Last Will and Testament saying the contrary. Additionally, the testator might have chosen a certain person to acquire a life insurance policy, retirement account, or some other asset, and that inheritor designation will ascertain who gets those assets without a Last Will and Testament.
The crucial thing to note is the fact that any person who desires to designate how their assets will be used after their death should draft and properly sign a Last Will and Testament to ensure their wishes are known and respected. With no will, you will be leaving it up to chance, the laws of the state, or a court of law regarding the way your final matters will be resolved.