This bill modifies provisions of the Utah Uniform Probate Code.
This bill:
- enacts within the Utah Uniform Probate Code a separate process for transferring a beneficiary's interest that is purchased by a third party in certain circumstances;
- provides a process for the transfer and requirements for written agreements to purchase a beneficiary's interest;
- provides for an optional hearing in relation to the transfer; and
- provides a penalty for a willful violation of the process.