What is a Last Will and Testament?

A last will and testament is a legal document that communicates your final wishes regarding assets, dependents, and heirs, and is an important part of an estate plan. Within your last will and testament, you can appoint a personal representative, nominate a guardian and conservator for dependents, outline what to do with your possessions, and identify who will inherit your assets.

In Utah, if you die without a will, your property will be distributed according to state “intestacy” laws. Utah’s intestacy law gives your property to your closest living relatives.

You can revoke your will by destroying it, or by making a new will that revokes the old one.

Nominating a Personal Representative:

Most personal representatives don’t need special financial or legal knowledge. Many people name their spouse or an adult child. A personal representative can hire lawyers, accountants, or other professionals, and pay them from the assets of the estate.

The person you choose should be honest, organized, and good at communicating with people.

A personal representative can always decline the responsibility or may resign at any time.

Understanding the Agent’s Roles

A personal representative, also known as the “executor” settles the decedent’s estate by using estate assets to pay final expenses and to satisfy the decedent’s creditors. At times a personal representative may need to probate any assets that the decedent owned outside of a Trust and ensure the appointment of the guardians and conservators of the decedent’s minor children. If you have been nominated as a personal representative, you will want to:

Some of the jobs that these agents are given include:

  • Review and understand the decedent’s Will if there is one.

  • Collect, inventory, manage and safeguard the decedent’s assets.
  • Pay valid claims against the estate.
  • File federal and state income tax returns for the decedent and the estate, and a federal estate tax return, if needed.
  • Prepare accountings of income and expenses and statements of all receipts and disbursements.
  • Distribute the assets of the estate as set forth in the Will.
  • If necessary, file a petition with the court to admit the Will to probate and to appoint you as the personal representative.

How We Can Help

Would you like to learn more about last will and testament?

At the Tingey Law Group PLLC, we can help you create last will and testament documents tailored to your specific needs and get them notarized.

Most times you need these documents to complete your estate planning, and we can assist you with their creation and would be happy to answer your questions.

Call (801) 477-0672 or email info@tingeylawgroup.com and schedule an appointment. We can assist you with their creation and would be happy to answer your questions.