Terms Used In Utah Code > Title 75 > Chapter 7 > Part 9 - Utah Uniform Prudent Investor Act

• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. ^{Source: OCC}
• Fiduciary: A trustee, executor, or administrator.
• Fiduciary: includes a personal representative, guardian, conservator, and trustee. See Utah Code 75-1-201 v2
• Man: means an adult human male. See Utah Code 68-3-12.5
• Person: means an individual or an organization. See Utah Code 75-1-201 v2
• 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
• Trustee: A person or institution holding and administering property in trust.
• Trustee: includes an original, additional, and successor trustee, and cotrustee, whether or not appointed or confirmed by the court. See Utah Code 75-1-201 v2