Wills Trusts and Estates Flashcards

How long is the permissible vesting period for a nonvested property interest in trust under Utah's modified rule against perpetuities?

Answer: 1,000 years

Utah's statutory rule against perpetuities (§ 75-2-1203) allows nonvested interests to remain valid if they vest or terminate within 1,000 years.

A Utah will states, 'I leave my jewelry as directed in a memorandum I will keep with this will.' The signed memorandum, written after the will, lists specific pieces for specific friends. Is the memorandum effective?

Answer: Yes, as a separate writing disposing of tangible personal property, which may be prepared after the will

Utah Code § 75-2-513 permits a will to refer to a signed separate writing disposing of tangible personal property, and the writing may be prepared before or after the will's execution.

The trustee of a Utah trust sells trust real estate to her own LLC at fair market value without beneficiary consent or court approval. What is the likely result if a beneficiary objects?

Answer: The sale is voidable under the no-further-inquiry rule against self-dealing

Self-dealing by a trustee is a breach of the duty of loyalty, and the transaction is voidable by beneficiaries regardless of fairness under the no-further-inquiry rule.

A settlor's irrevocable Utah trust has become uneconomical, with administrative costs consuming the small corpus. All beneficiaries consent to termination, and no material purpose remains. What can the court do?

Answer: Terminate or modify the trust under the Utah Uniform Trust Code

Utah's Uniform Trust Code allows modification or termination of an uneconomic trust, or upon consent of the beneficiaries when no material purpose of the trust remains to be served.

A Utah will gives the testator's widow 'the power to appoint the remainder among our children as she chooses.' The widow's own will appoints the property to her second husband instead. Is the appointment valid?

Answer: No, because the appointment exceeds the scope of a special power limited to the children

A special (limited) power of appointment may be exercised only in favor of the defined class of permissible appointees, so appointing to the second husband is invalid.

A Utah testator's typed will was validly executed, but after death only a photocopy can be found and evidence shows the original was last in the testator's possession. What presumption applies?

Answer: The will is presumed revoked by the testator, though the presumption may be rebutted

When a will last known to be in the testator's possession cannot be found at death, a rebuttable presumption arises that the testator revoked it by destruction.

During probate in Utah, a creditor receives actual notice from the personal representative to present claims. What generally happens if the creditor fails to present its claim within the statutory period?

Answer: The claim is barred against the estate

Under Utah's nonclaim statutes, claims not presented within the applicable statutory period after proper notice are barred against the estate and its distributees.