• Things You Should Know about Utah’s New Asset Protection Law, Effective May 14, 2013
  • April 16, 2013
  • Law Firm: Kirton McConkie - Salt Lake City Office
  • Utah is technically not new to the asset protection game-it has had a law allowing for self-settled trusts with some creditor protection on the books since 2003. The protection provided by that statute, however, was subject to so many restrictions and exceptions that practitioners rarely (if ever) relied on it. As of May 14, 2013, Utah will have a new domestic Asset Protection Trust (DAPT) statute authorizing the creation of trusts with such significant asset protection features that Utah should now be considered among the best jurisdictions in the nation for self-settled spendthrift trusts, along with (and perhaps ahead of) Nevada, South Dakota, Alaska and Delaware.