75-2-214 - Protection of payors and other third parties. - Utah Statutes

75-2-214. Protection of payors and other third parties.
(1) Although under Section 75-2-205 a payment, item of property, or other benefit isincluded in the decedent's nonprobate transfers to others, a payor or other third party is not liablefor having made a payment or transferred an item of property or other benefit to a beneficiarydesignated in a governing instrument, or for having taken any other action in good faith relianceon the validity of a governing instrument, upon request and satisfactory proof of the decedent'sdeath, before the payor or other third party received written notice from the surviving spouse orspouse's representative of an intention to file a petition for the elective share or that a petition forthe elective share has been filed. A payor or other third party is liable for payments made or otheractions taken after the payor or other third party received written notice of an intention to file apetition for the elective share or that a petition for the elective share has been filed.
(2) A written notice of intention to file a petition for the elective share or that a petitionfor the elective share has been filed shall be mailed to the payor's or other third party's main officeor home by registered or certified mail, return receipt requested, or served upon the payor orother third party in the same manner as a summons in a civil action. Upon receipt of writtennotice of intention to file a petition for the elective share or that a petition for the elective sharehas been filed, a payor or other third party may pay any amount owed or transfer or deposit anyitem of property held by it to or with the court having jurisdiction of the probate proceedingsrelating to the decedent's estate, or if no proceedings have been commenced, to or with the courthaving jurisdiction of probate proceedings relating to decedents' estates located in the county ofthe decedent's residence. The court shall hold the funds or item of property, and, upon itsdetermination under Subsection 75-2-211(4), shall order disbursement in accordance with thedetermination. If no petition is filed in the court within the specified time under Subsection75-2-211(1) or, if filed, the demand for an elective share is withdrawn under Subsection75-2-211(3), the court shall order disbursement to the designated beneficiary. Payments ortransfers to the court or deposits made into court discharge the payor or other third party from allclaims for amounts so paid or the value of property so transferred or deposited.
(3) Upon petition to the probate court by the beneficiary designated in a governinginstrument, the court may order that all or part of the property be paid to the beneficiary in anamount and subject to conditions consistent with this part.

Enacted by Chapter 39, 1998 General Session