Asset Protection

What is Asset Protection?

More infomation about Utah asset protection
 The new Utah Domestic Asset Protection Trust
Lovely senior couple that know about asset protection

Asset protection is part of good estate planning for many seniors. It requires planning to:

  • Eliminate or reduce taxes
  • Protect your money and property from future creditors
  • Protect you from losing your assets because of disability or incompetence
  • Anticipate and plan for nursing home or catastrophic medical expenses which might require Medicaid or other public benefits
  • Place inheritances you leave to irresponsible children or grandchildren in the hands of safe managers and beyond the reach of creditors

To protect the assets of our clients, our experienced attorneys must understand and apply the Utah Uniform Fraudulent TransfersAct (UFTA), which protects current creditors by prohibiting most transfers for less than their fair value. Applying Utah law, our attorneys find many opportunities for asset protection using the following tools:

  • Irrevocable trusts including our own Legacy Trust (trusts which cannot be changed or revoked by their creators)
  • Transfers to family members
  • Creation of business entities such as corporations, LLC's and limited partnerships
  • Veterans Asset Protection Trusts (to qualify for Veterans Aid and Attendance benefits)
  • Special Needs Trusts (for beneficiaries on public benefits such as Medicaid and Social Security Disability
  • Utah Domestic Asset Protection Trusts (DAPT) (Under new Utah law effective in May 2013)

We believe the new Utah Domestic Asset Protection Trust (DAPT) is one of the strongest asset protection trusts in America. To learn more, see (LINK)

Our attorneys are happy to meet with you in a FREE INITIAL CONSULTATION to discuss your estate planning needs, including asset protection. Please call us today or send us a message using the contact box to the right.

Helgesen, Houtz & Jones $$(801) 544-5306