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What is the Difference Between "Per Capita" and "Per Stirpes"?

Trusts and Wills often make reference to the Latin legal phrases “per capita” or “per stirpes” (pronounced ‘stir-peas’).  These phrases describe methods for dividing property among an individual’s descendants, and describes what happens when one or more of the...

Do You Only Need a Will?

A “Will” is the backbone of every estate plan.  However, a Will is often insufficient to meet an individual’s entire estate planning needs.  At its heart, every estate plan has as its primary purpose to ensure that a person’s assets are distributed according to that...

Glossary of Types of Trusts

A “trust” is a legal relationship created when one party (the “grantor”) transfers property to another (the “trustee”) to be held for the benefit of other persons (the “beneficiaries”).  The term “trust” commonly refers to a written document such as a “Trust...

When Does New LLC Act Take Effect?

Note: All articles on Utah’s New LLC Act are in the process of being updated to conform to the changes made before it was enacted in 2014. Please check back to see the revised articles. Utah’s new ‘uniform’ LLC Act takes effect July 1, 2012 for Utah LLCs formed...