Utah Asset Protection

Morgan & Associates Attorneys at Law
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Utah Asset Protection Trusts

Utah Estate Planning & Assistance Asset Protection Services


Consider A Utah Asset Protection Trust

Utah law is extremely favorable for those wishing to protect assets from potential creditors. Asset protection trusts can be used to protect both the trust creator and future generations from creditors. It is important to note that no one vehicle, be it a Utah Domestic Asset Protection Trust, or a business entity such as an LLC provide complete entities or combinations of entities needed to protect both your future as well as your present.

The most important part of a Utah Asset Protection Trust is its irrevocability. Standard Revocable trusts are strictly organizational tools used to avoid guardianship and probate, while important, these do not afford any protection from creditors. An irrevocable trust can provide powerful protection against creditors.

Utah Asset Protection Trusts are extremely flexible considering the protection they provide. For example you can be the beneficiary of the trust and may retain the power to substitute assets in the trust, designate after-death beneficiaries of the trust, and replace trustees. At least one of the Trustees must be a Utah resident. The trust can hold your residence, recreational property, business assets, investments such as stocks, insurance and other assets.

Nevertheless it is important to note that with any Asset Protection Trust, there is some sacrifice in control over the property entrusted to it. In a Utah Domestic Asset Protection Trust, you cannot serve as the sole trustee over your own trust, although you can serve as a co-trustee. This means that somebody else must serve as the trustee over distributions. This individual can be a child, sibling or other family member but not your spouse.

Utah law immediately bars future creditors from accessing the assets in a Utah Domestic Asset Protection Trust. After an asset is transferred into a trust, current creditors generally have two years to challenge the transfer, but this period can be reduced to just 120 days with notice to the creditor.

In order to be valid the trustmaker must sign an affidavit at the creation of the trust certifying among other things that:

  1. The settlor has full right, title, and authority to transfer the assets to the trust.
  2. The transfer of the assets to the trust will not render the settlor insolvent.
  3. The trustmaker does not intend to defraud a known creditor by transferring the assets to a trust.
  4. There are no pending or threatened court actions against the settlor.
  5. The trustmaker does not currently intent to file for bankruptcy.

Utah Domestic Asset Protection Trusts can provide peace of mind for those who work in high risk professions such as Doctors or for those who want to protect at least enough of their estate to ensure their comfort in an uncertain future. At the end of the day, no legal tool can guarantee complete security but a Utah Asset Protection Trust is about as good as it gets.

Utah Asset Protection Trusts Done Right!  Call Today | 801-874-5644

 


                                                                                                                                                                                                                                                                     

 

 

 


Asset Protect Trust
Gillian Wain
Gillian Wain
22:34 29 May 20
Chris Morgan was very professional and worked quickly. ... Very happy with his work.read more
Karen Watts
Karen Watts
17:58 29 May 20
We were very happy with the way Chris treated us and his... experience in doing our wills. He was excellent to work with and very cordial and answered all our questions and willing to help us in other matters.read more
Derrilee Thomas
Derrilee Thomas
23:19 28 May 20
CHRIS offered, for free, for the month of May, the writing... up of a Will. Most things aren't really for "Free" but it really was! Chris did the Will for us and it was fast and convient. He simply did it as a service. He didn't try to add on anything that would be an additional cost. I really appreciated him giving of his time to help me and my husband out. Thank you Morgan & Associates!read more
Peggy Shepherd
Peggy Shepherd
17:13 27 May 20
We were impressed with the quality and quick response and... the friendliness of both associates upon our first and only visit.read more
Amy Omer
Amy Omer
21:16 26 May 20
We had a great experience with Chris Morgan. He walked us... through our options with a will/trust and educated us about special needs trusts for our son. He was generous and helpful and it didn’t feel like he was trying to sell us more than we needed. We recommend this office!read more
Thomas Omer
Thomas Omer
18:58 26 May 20
My wife and I have always meant to get a will, and just... have never done it. I’m happy we finally got it done with Chris Morgan’s help! He was very knowledgeable and helpful, while being respectful of our time and interests. He has a great little office on Main Street in Lehi, and even took the time to disinfect between visits. We have an autistic son, so he took time to explain all about special needs trusts, but he didn’t try to push us into buying more than what we needed at the moment (which was just the will).Anyway, we’re very happy with Chris, and highly recommend his services!read more
Cecilia Salvesen
Cecilia Salvesen
01:14 24 May 20
Chris has been a pleasure to deal with. He is profession as... well as relaxed with a good sense of humor. It was a pleasure dealing with Chris and Associates.read more
Jill Hickman
Jill Hickman
21:19 10 Apr 20
Chris Morgan is great and we loved the efficiency! Me and... my husband have been talking about getting our wills done for years! Yes, probably for about 10 years or more because we have kids. We never wanted something happen to us and leave our kids parent-less! So I knew it was going to be happening this year since I put in my calendar as a "to do" item. However, January is our good intentions month and I did not follow through! I kept on putting that item to a later, more convenient time. The convenient later time never seems to come. Then the COVID-19 pandemic hit! We all know that this pandemic time is not convenient! After being at home for about a month, I decided that I better just do the will because we never know what to expect with life. I called his office on Wednesday and talked with Chris and set up an appointment, two days later for Friday. We just went in to our appointment and it took us 30 minutes to get mine and my husband's completed notarized will!! I am so ecstatic and feel great that this is finally taken care of! It is such a peace of mind! Chris is personable and professional and knows how to do his trade efficiently and well! Please don't hesitate like I did for years, just go to Chris Morgan and get it done! It will be a peace of mind for you! As a side note, he sanitizes between clients and the room where we signed was big enough to do the 6 feet social distancing. $100 for a personal will x2 for both of us, contained in this nice maroon folder.read more
Gary Thurgood
Gary Thurgood
02:53 17 Mar 20
This was the best experience with an attorney that I’ve... ever had in my life, He went over and above my expectations, I would recommend Morgan and associates to everyone and I will !!!read more
Lee MacGregor
Lee MacGregor
23:01 03 Mar 20
I am Extremely Impressed for the hospitality and well... manner, I was well informed after the call I made to Morgan & Associates, Not to mention that I called five other Lawyers and no one had the time to talk about to me. I was again IMPRESSED!!!! Not the normal Lawyerread more
Blake Ross
Blake Ross
00:08 29 Feb 20
We love Chris Morgan! He is very knowledgeable about Utah... law and was a great help with setting up our trust as well as my parents trust. He is very easy to talk to and he makes it very comfortable planning for the future. We highly recommended Morgan and Associates!read more
Mary Taylor
Mary Taylor
18:10 22 Feb 20
Very good information and help with will and trust. ... Learned a lot! Will definitely go back Did not charge for information-packed appointment.read more
Tyler Fenn
Tyler Fenn
19:01 29 Dec 19
Chris Morgan was excellent to work with. A lot goes into a... trust that I don’t understand and Chris helped me understand the nuances of creating and maintaining a trust and living wills for my wife and I. I’d highly recommend him for his knowledge and professionalism.read more
Jenn Fenn
Jenn Fenn
18:55 29 Dec 19
Chris is an excellent attorney. Our experience was the best... we’ve had with an attorney. He reviewed our existing trust and was candid about what was done well and what he could improve for us. His work was quick and he helped us understand everything going into our wills and trust. I highly recommend Chris Morgan.read more
Kathy Stevens
Kathy Stevens
02:21 08 Nov 19
Chris was very helpful and took the time to listen to all... of my concerns. I appreciate all he did for me and my son.read more
Brad Walker
Brad Walker
22:15 11 Oct 19
Chris is very professional and personal in his work. He is... very detailed in his helping our family. We highly recommend him.read more
Steven Sorensen
Steven Sorensen
21:32 10 Sep 19
Chris Morgan is very knowledgeable in Law and also... understands how the real world works. He has a talent to help one understand the process and make you feel comfortable in planning your estate. He really wants the best for his clients. I’m very grateful to have him represent our family trust.read more
Tiffany Hardinger
Tiffany Hardinger
02:18 06 Jul 19
Morgan & Associates is wonderful! They helped us walk... through details of setting up a Trust for my mother and still continue to support us after her passing. Goes the extra mile in all aspects including meeting at our home to finalize documents. Highly recommended!read more
Sami Draper
Sami Draper
04:17 18 Mar 19
Answers the phone on the weekend and is so willing to help... you on their days off. Extremely helpful and friendly.read more
lynn lindstrom
lynn lindstrom
22:45 15 Mar 19
They were kind and helpful explaining every thing helped me... with other things I needed done would use them again no problem excellentread more
Charlotte Stock
Charlotte Stock
17:23 01 Feb 19
Christopher Morgan listens closely and is very... knowledgeable about Utah law concerning estate planning, health care directives, and wills. I was amazed at his ability to give me the help and advice I needed to be completely satisfied and at peace with every document he made for me. He certainly has my vote of confidence. I highly recommend him to everyone. Charlotte Stockread more
Janelle Wakley
Janelle Wakley
22:23 25 Jan 19
Chris was very helpful when my husband and I had questions... about our Medicaid application. He is friendly and professional.read more
Wolfiere Labs
Wolfiere Labs
20:38 25 Jan 19
JoAnna Hall
JoAnna Hall
17:14 21 Dec 18
If you're looking to get your estate planning, trust in... order, Chris is the guy!! He is so thorough and explained everything in terms we understand and knows what he is doing! Very pleasant experience and we HIGHLY recommend him! Thanks Chris!read more
Joe Clements
Joe Clements
19:25 05 Dec 18
We needed help with making a Will and Trust. Chris got us... in quickly and produced our documents at a super affordable cost! Highly recommend!!read more
Ben Tyler
Ben Tyler
05:57 02 Nov 18
My wife and I hired Chris Morgan to help us with our Estate... Planning documents and could not have been more pleased! Chris was responsive to our every need, flexible in his scheduling, patient and clear in educating, sensitive to our interests, and produced a product which far exceeded expectations. But this really didn't surprise me, considering the raving reviews he's received from his clients. With binder of completed documents in hand, my head will rest more comfortably on my pillow tonight. Thank you, Chris, for making our most important priorities your own. We look forward to receiving our first Christmas card :).read more
Bonnie Hill
Bonnie Hill
21:32 31 Jul 18
Chris was really great to work with! On our first meeting... he was very knowledgeable and funny and easy to talk to! He explained things and addressed all our concerns and questions. He made things fun and eased any tensions. He seems honest and fair. The best part is that he was willing to come to our home for the meeting. He was easy to work with schedule wise as well. I would definitely recommend Chrisread more