Utah Asset Protection Trusts-Keep The House Even If You Get Sick

Utah Domestic Asset Protection Trusts

The Legislature finally did something right . . . they made it possible to protect your assets from creditors like Medicaid and Hospitals, but only IF you plan it right.

There is a special statute in Utah that allows for a Domestic Asset Protection Trust. These trusts allow the grantor (the person creating the trust) to place assets into the trust so creditors can’t take them.

There are several specific things that must be done while executing the trust (and the deed of transfer if you are placing a home in the trust) so that the law protects them, and I have done this for my clients. The most important thing is to do it at a time when you actually have no claims against you. I have helped my “more seasoned” clients to place houses into trusts when they think they might be facing a long illness later in life or a long time in a care facility, which may require a lot of money that they would rather leave to their kids. By placing their homes into asset protection trusts, my clients can be sure to at least leave the home behind for their families and can still live in the home.

This is another way I am giving peace of mind to my clients in these uncertain times. By properly executing these trusts, people can sleep (in their homes) knowing that they are still leaving a legacy for their families.

Call me today at (801) 808-1885 if you know someone who needs this, or you think you might. It is worth planning ahead to keep your home.

This is attorney advertising material and does not create an attorney-client relationship.