Utah Laws on Inheritance Loans and Advances on Probate

Probate is the legal method for ensuring the last will and testament of a person is followed for the disbursement of their estate when they become deceased. Each state is allowed to make their own statutes for probate. These statutes govern how long a person has to begin probate, what signatures must be recorded, what documents are necessary and what property is listed in probate. 

What are Utah Probate Laws?

Utah probate laws include a simplified probate system which allows for either formal or informal probate for an estate. In either case, the estate will need an executor to manage the process of distributing the assets and paying creditors. It can be difficult to know which of the processes is right for your situation. It is best to work with an experienced Utah probate attorney who can help you decide if your estate qualifies for informal probate or if it must go through the formal process. They will assist you with documentation and ensure you meet deadlines and all requirements. 

What is the Utah Probate Process?

To distribute the assets of the estate, the probate process in Utah must be completed. It can be quick and easy with informal probate or a lengthier process with formal probate. In either case, certain steps must be taken. 

It is important to note that while the executor does carry power in this position to make decisions regarding the estate, they do not own the estate. They are limited to only the powers granted to them by the courts. 

What Property Must be Included in Utah Probate?

Much of the property of a deceased person can avoid probate in Utah. If the person created a living trust, probate could be avoided. In other cases, assets that include a direct beneficiary do not need to be included in probate. For example, a bank account with two owners or one with a payable upon death to the beneficiary will not need to be included in probate. Life insurance policies and retirement accounts often are the same with designated beneficiaries. Real estate and other real property may avoid probate if there is a second owner who is still living. It often depends on how the contract was set up and the exact wording. An experienced probate attorney in Utah can help you determine what assets must go through probate. Utah has an informal probate process that allows you to move through the steps faster. If there is no real property, such as real estate, and the assets total less than $100,000, you may qualify for informal probate. You cannot avoid probate if there is anyone who is disputing the will. 

How Can You Stay Out of Utah Probate?

It is possible to skip the probate process in Utah if you have planned your estate accordingly with a living trust. With this option, all assets consequently go to the beneficiary listed in the trust. Probate can be a costly and lengthy process, especially with any disputes. It can take months or even years to be resolved. A living trust can eliminate all of these problems for the heirs. 

How Can You Receive Utah Inheritance Funds Immediately?

There are ways where you can gain access to Utah inheritance funds for which you are entitled in the will even before probate is completed. It is called a probate advance, and heirs can receive the money in just a few days. The process of getting an inheritance advance is simple, and all information given is secure. There are no restrictions on how you can use the money you receive. ProbateAdvance allows you to receive your inheritance money now instead of waiting for a long time for probate to be closed. You will have no hidden charges or fees and no payments or interest accruing on the money. Your credit history will not be taken into account. Instead of waiting for months to receive your inheritance, you may be able to get it in just a matter of days. 

How to Find Out If You Qualify for an Inheritance Cash Advance?

You can find out quickly if you meet the requirements for a cash advance on your inheritance. If you are a listed heir to the estate, you may be able to gain access to your money in as little as two days. You can use the income to pay off bills, to buy a new home or vehicle or to take a vacation. It is your money to spend as you wish and you may be able to get it in just 48 hours. 

What Do You Need for a Utah Probate Advance?

You must prove that you are legally an heir to an estate for a Utah probate advance. You will need to have the appropriate documentation that shows this fact. You must also decide the percentage of funding you want to receive now. You can get the cash in only two or three days. 

Where in Utah Can I Qualify for an Inheritance Loan?

We offer loans for heirs throughout Utah, including the following areas: 

You can get educated about Utah probate laws and guidelines on inheritances by reviewing the following resources. 

Utah Probate Resources

Laws on Utah Inheritance Taxes

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