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2017 Utah Code
Title 75 - Utah Uniform Probate Code
Chapter 7 - Utah Uniform Trust Code
Part 5 - Creditor's Claims - Spendthrift and Discretionary Trusts
Section 515 - Claims not due and contingent or unliquidated claims.
Universal Citation: UT Code § 75-7-515 (2017)
75-7-515. Claims not due and contingent or unliquidated claims.
Renumbered and Amended by Chapter 89, 2004 General Session
- (1) If a claim which will become due at a future time or a contingent or unliquidated claim becomes due or certain before the distribution of the trust estate, and if the claim has been allowed or established by a proceeding, it shall be paid in the same manner as presently due and absolute claims of the same class.
- (2) In other cases the trustee, or, on petition of the trustee or the claimant in a special proceeding for that purpose, the court, may provide for payment as follows:
- (a) if the claimant consents, he may be paid the present or agreed value of the claim, taking any uncertainty into account; or
- (b) arrangement for future payment, or possible payment, on the happening of the contingency or on liquidation may be made by creating a trust, giving a mortgage, obtaining a bond or security from a beneficiary, or otherwise.
Renumbered and Amended by Chapter 89, 2004 General Session
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