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Terms Used In Utah Code 75-7-803

  • Property: includes both real and personal property or any interest therein and means anything that may be the subject of ownership. See Utah Code 75-1-201 v2
  • Trust: includes :
              (60)(a)(i) a health savings account, as defined in Section 223of the Internal Revenue Code;
              (60)(a)(ii) an express trust, private or charitable, with additions thereto, wherever and however created; or
              (60)(a)(iii) a trust created or determined by judgment or decree under which the trust is to be administered in the manner of an express trust. See Utah Code 75-1-201 v2

     If a trust has two or more beneficiaries, the trustee shall act impartially in investing, managing, and distributing the trust property, giving due regard to the beneficiaries’ respective interests.