What kinds of trusts does Utah law recognize?

Revocable and irrevocable trusts (Utah Code § 75B-2-602), spendthrift and discretionary trusts (§ 75B-2-502, § 75B-2-504), charitable trusts (§ 75B-2-405), trusts for animals and for noncharitable purposes (§ 75B-2-408, § 75B-2-409), directed trusts under the Uniform Directed Trust Act (§ 75B-3-102), unitrusts (§ 75A-5-303) and the Utah asset protection trust (§ 75B-1-302, § 75B-1-303), among others.

What is a Utah asset protection trust?

A trust whose settlor is a beneficiary and whose transfers a creditor of the settlor may not reach, where the instrument meets the statute's requirements — Utah law governs, a Utah resident or trust company serves as trustee, the settlor's interest may not be transferred, no mandatory distributions to the settlor, no power to revoke without an adverse party's consent — and the transfer was not made in default of a support obligation, with intent to defraud a known creditor or while insolvent (Utah Code § 75B-1-302, § 75B-1-303).

What is a directed trust in Utah?

A trust whose terms grant a power of direction to a trust director; the directed trustee takes reasonable action to comply with the director's direction and is not liable for it except where compliance would be willful misconduct, and has no duty to monitor the director unless the terms provide otherwise (Utah Code § 75B-3-102, § 75B-3-109, § 75B-3-111).

Types of Trusts in Utah

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Common types of Trusts in Utah

Revocable living Trust

Created during life and changeable anytime; commonly used to avoid probate and plan for incapacity. You keep control — so it is not asset protection.

Irrevocable Trust

Generally can't be changed or revoked once created; you give up control in exchange for benefits some irrevocable Trusts can offer, such as certain tax or planning goals. Fact-specific — for an attorney to design.

Testamentary Trust

Created by your will and funded only after death, through probate. Useful for leaving assets to minors or in stages.

Special needs (supplemental needs) Trust

Holds assets for a beneficiary with disabilities without disrupting needs-based public benefits like Medicaid or SSI, when properly drafted.

Spendthrift Trust

Includes a spendthrift provision that restrains a beneficiary's ability to transfer their interest and limits some creditors' reach (Utah Code § 75B-2-502), within limits.

Charitable Trust

Benefits a charitable purpose; certain forms can combine giving with income or tax planning. Design and compliance are an attorney/advisor matter.

Trust for a pet

A Utah trust for the care of a pet or animal, which the Utah Uniform Trust Code provides for (Utah Code § 75B-2-408); it ends when no covered animal is living.

Which type of Trust fits your goals?

Trusts are tools — the right one (if any) depends entirely on your goals, your family, your assets, and tax considerations. This page is general information, not legal advice. A free role check can show you where you stand, and a Utah attorney can design what fits your situation.

General information about Utah law, not legal advice.

Frequently asked questions

What kinds of trusts does Utah law recognize?: Revocable and irrevocable trusts (Utah Code § 75B-2-602), spendthrift and discretionary trusts (§ 75B-2-502, § 75B-2-504), charitable trusts (§ 75B-2-405), trusts for animals and for noncharitable purposes (§ 75B-2-408, § 75B-2-409), directed trusts under the Uniform Directed Trust Act (§ 75B-3-102), unitrusts (§ 75A-5-303) and the Utah asset protection trust (§ 75B-1-302, § 75B-1-303), among others.
What is a Utah asset protection trust?: A trust whose settlor is a beneficiary and whose transfers a creditor of the settlor may not reach, where the instrument meets the statute's requirements — Utah law governs, a Utah resident or trust company serves as trustee, the settlor's interest may not be transferred, no mandatory distributions to the settlor, no power to revoke without an adverse party's consent — and the transfer was not made in default of a support obligation, with intent to defraud a known creditor or while insolvent (Utah Code § 75B-1-302, § 75B-1-303).
What is a directed trust in Utah?: A trust whose terms grant a power of direction to a trust director; the directed trustee takes reasonable action to comply with the director's direction and is not liable for it except where compliance would be willful misconduct, and has no duty to monitor the director unless the terms provide otherwise (Utah Code § 75B-3-102, § 75B-3-109, § 75B-3-111).

General information about Utah law, not legal advice.