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Utah Enacts Favorable Asset Protection Trust Statute

Only a few states have enacted asset protection trust legislation to provide creditor protection through a self-settled irrevocable trust. Those states with domestic asset protection trust (DAPT) statutes compete with one another by maintaining laws that attract investment assets to their state from people seeking asset protection benefits. In 2013, Utah enacted a revised domestic…

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Tenants By Entireties Ownership Of Joint Living Trust Assets

Prior to 2011,  when the estate tax exemption was much lower,  most estate planning attorneys preferred to separate spouses’ assets in separate living  trusts to make sure each spouse received their full estate tax exemption. Joint trusts which are not properly drafted or maintained can forfeit one or the other spouse’s exemption.