Utah Trust Lawyers

Establish a Trust & Protect Your Assets

Creating a comprehensive estate plan is one of the most effective ways to protect your legacy and ensure your assets are distributed according to your wishes. At Pearson Butler, our experienced trust attorney provides tailored estate planning services to clients throughout Utah. Whether you're planning for the future, protecting your loved ones, or managing complex assets, our firm is here to help you understand your options and build a plan that works for you.

Here's why you should hire our firm:

• One of the only mid-sized multi-practice law firms in Utah
• Decades of experience helping families and businesses throughout the state
• We have more than 30 qualified attorneys at your service

For more information and to arrange a confidential consultation, call our Utah trust attorneys at (800) 265-2314.

What is a Trust?

A trust is a legal arrangement that allows a person (the “grantor” or “settlor”) to transfer assets to a trustee, who manages them for the benefit of a third party (the “beneficiary”). Trusts are highly customizable and can be structured to meet a variety of financial and personal goals.

Unlike a will, a trust can take effect immediately and may help your beneficiaries avoid the lengthy and public probate process. Trusts are often used to manage assets during a person’s lifetime, distribute wealth after death, and provide long-term protection and control over how property is used.

Some common reasons people in Utah choose to create a trust include:

• Avoiding probate
• Protecting assets from creditors or lawsuits
• Providing for minor children
• Ensuring privacy in estate distribution
• Managing business or real estate interests
• Planning for disability or incapacity

At Pearson Butler, our Utah trust lawyer helps clients understand their options and prepare trusts that accomplish their goals effectively and legally.

Common Types of Trusts

Utah residents have access to many types of trusts, each serving different purposes. Choosing the right one depends on your financial situation, family needs, and long-term estate planning goals.

Revocable Living Trust

A revocable living trust is one of the most common estate planning tools. You retain full control over the trust during your lifetime and can modify or revoke it at any time. When you pass away, the trust becomes irrevocable, and your assets can be distributed to your beneficiaries without probate.

Irrevocable Trust

An irrevocable trust generally cannot be changed once established. Because you relinquish ownership of the assets placed in the trust, they may be protected from estate taxes, creditors, and certain liabilities.

Testamentary Trust

This type of trust is created through a will and only becomes effective upon your death. Testamentary trusts are commonly used for minor children or beneficiaries who may need help managing their inheritance.

Special Needs Trust

A special needs trust allows you to provide financial support to a loved one with disabilities without disqualifying them from government benefits such as Medicaid or SSI.

Charitable Trust

Charitable trusts allow you to support a charitable organization while also benefiting from potential tax advantages. These trusts may provide income to you or your beneficiaries before the remainder goes to the charity.

Asset Protection Trust

Designed to safeguard assets from creditors or legal claims, an asset protection trust is often used by business owners, professionals, or individuals with high-value assets.

Irrevocable Life Insurance Trust (ILIT)

An ILIT removes life insurance proceeds from your taxable estate, helping maximize the amount passed to your beneficiaries.

Our Utah trust lawyer can evaluate which trust best aligns with your goals and ensure it is drafted properly under Utah law.

The Utah Uniform Trust Code

Establishing a trust in Utah requires strict compliance with state statutes. In 2004, Utah enacted the Utah Uniform Trust Code (UUTC) (Utah Code Title 75, Chapter 7), which provides the legal framework governing how trusts are created, modified, administered, and terminated across the state.

• Trust Validity and Intent: Under Utah Code § 75-7-402, a trust is created only if the settlor has capacity, indicates an intention to create a trust, and appoints a trustee with definite duties for a designated beneficiary.
• Duties of the Successor Trustee: Utah law holds trustees to high fiduciary standards. A trustee must administer the trust in good faith, exercise reasonable care and skill, maintain impartiality among beneficiaries, and provide detailed annual accountings.
• Trust Modification and Decanting: Circumstances change over time. Under Utah’s uniform trust provisions and decanting laws, certain irrevocable trusts can be modified or reformed through court petition or nonjudicial settlement agreements if all beneficiaries consent and the core purpose of the trust is preserved.

Our team ensures your trust documents are drafted in compliance with the UUTC, protecting your estate from legal ambiguity or future litigation.

Benefits of Trusts

Trusts offer numerous advantages that make them an essential part of many estate plans. Some of the key benefits include:

• Avoiding Probate: One of the most significant benefits is that assets in a trust typically avoid probate—a time-consuming, public, and often costly court process. This allows heirs to access assets more quickly and privately.
• Protecting Your Privacy: Probate records are public. Trusts, however, keep your asset distribution and estate details completely private.
• Reducing Taxes: Certain trusts can reduce or eliminate estate taxes, capital gains taxes, and other financial obligations.
• Providing Asset Protection: Trusts can shield assets from creditors, lawsuits, and divorce settlements, depending on how they are structured.
• Ensuring Long-Term Management: Trusts allow you to specify exactly how and when beneficiaries receive assets—particularly useful for minors, individuals with disabilities, or beneficiaries who may not be financially responsible.
• Planning for Incapacity: A trust can ensure your financial affairs continue to be managed smoothly if you become incapacitated, without the need for court intervention.
• Supporting Loved Ones: Whether you are providing for children, aging parents, a spouse, or a loved one with special needs, trusts can be tailored to offer long-term financial security.

At Pearson Butler, we help clients leverage these benefits through careful planning, drafting, and administration of trusts.

Proper Trust Funding in Utah

A trust agreement is only as effective as the assets transferred into it. One of the most common mistakes in estate planning is creating a trust document but failing to complete the trust funding process.

Funding a trust means legally transferring ownership of your property, financial accounts, and real estate from your individual name into the name of your trust. Unfunded or partially funded assets remain in your personal estate and may still be subjected to probate court proceedings upon your passing.

• Retitling Utah Real Estate: Real estate in Salt Lake County, Utah County, or throughout the state must be retitled. Pearson Butler prepares and records a Warranty Deed or Quitclaim Deed transferring your home or commercial property into the trust with the appropriate county recorder's office
• Bank & Investment Accounts: Liquid assets, checking accounts, savings, brokerage accounts, and certificates of deposit (CDs) should be retitled directly in the trust's legal name, or designated with Payable-on-Death (POD) designations naming the trust as primary beneficiary.
• Business Interests & Entities: If you own a Utah LLC, partnership, or closely held corporation, assignment agreements must be drafted to transfer membership units or stock certificates into your trust, aligning your business succession plan with your family estate plan.
• Life Insurance & Retirement Designations: While qualified retirement plans (like 401ks or IRAs) require careful tax structuring before altering ownership, life insurance policies can often name the trust or an Irrevocable Life Insurance Trust (ILIT) as the beneficiary to manage tax liability and cash flow.

We do not simply hand you a stack of trust documents and send you on your way. Our legal team guides you through the crucial funding process to guarantee that your trust operates as intended.

Trust FAQs

Do I need a trust if I already have a will?

A will and a trust serve different functions. A will distributes your assets through probate, while a trust allows assets to pass outside of probate. Many clients choose to use both for a comprehensive estate plan.

How long does it take to set up a trust?

The timeline depends on the complexity of your assets and your goals, but most trusts can be drafted and executed within a few weeks.

Can I change my trust later?

Revocable living trusts can be modified at any time. Irrevocable trusts generally cannot be changed, so it is essential to get legal advice before establishing one.

Do trusts help reduce taxes?

Some trusts offer tax advantages, especially irrevocable trusts. Our Utah trust lawyer can help you understand your tax planning options.

What happens to a trust when I die?

Revocable trusts become irrevocable, and your successor trustee takes over. The trust assets are distributed according to your instructions without going through probate.

Why Choose Pearson Butler for Your Trust in Utah

Establishing a trust isn't just about paperwork — it's about entrusting your family's future to the right team. Pearson Butler stands apart as one of the only mid-sized, full-service law firms in Utah, giving trust clients direct access to attorneys across estate planning, tax law, business law, and litigation whenever a trust intersects with those areas. With more than 30 attorneys and over 300 years of combined experience, our firm has helped generations of Utah families and business owners protect what matters most.

We don't believe in one-size-fits-all templates. Every trust we draft is built around your specific goals, family dynamics, and asset picture — then reviewed by attorneys who understand how Utah law, federal tax rules, and your broader estate plan all fit together.

For all your trust and estate planning needs, call (800) 265-2314. Pearson Butler is positioned to deliver the intelligent, compassionate representation you deserve.