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Senate clarifies rules for beneficiary-funding contracts in probate proceedings
Summary
Senate Bill 233 sets disclosure and judicial-approval requirements for contracts in which a beneficiary sells a portion of a pending inheritance to a funding company; the chamber approved the bill after adopting an amendment limiting who may challenge such contracts.
The Utah Senate on Thursday passed Senate Bill 233, a measure that codifies procedures and court oversight for beneficiary‑funding agreements used by heirs to access portions of expected inheritances during ongoing probate proceedings.
Senator Dan Hemmert (presenting under the name Senator Collamore in floor remarks) explained that beneficiary‑funding firms advance funds…
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