Utah

The information given on this page is for educational and informational purposes only, and does not constitute any legal or tax advice or opinion. This page is meant to give a quick start to research by other professionals, but it should absolutely not be relied upon for any purposes whatsoever. Additionally, this page is kept current only as our time allows, and the information given here may not be current. We make NO GUARANTEES as to the accuracy of the information herein and you should not rely on it. Even professionals who use this information must independently verify whether it is correct and current.

Nothing in the information given below should imply that the drafters of this webpage are admitted to practice law in the referenced state or have any special expertise in the areas listed. Nothing herein should be construed as a solicitation by the drafters of this website to practice law in the referenced state. Persons desiring planning should contact a licensed attorney or other appropriate planning professional in this state. Certainly, nothing herein is any substitute for the services, advice, or counsel of a properly licensed attorney in the relevant state!

Utah Asset Protection Overview

Utah debtors may only choose from the state bankruptcy exemptions.

Even though Utah’s statutory creditor exemptions are typical of a Western state (very little protection for real estate, and only moderate protection for properly structured life insurance arrangements), Utah is known as the nation’s cesspool of asset protection planners. In addition to the now-defunct Merrill Scott & Associates, who embezzled their client funds, Utah is home to several planning groups that roam the U.S. giving seminars for pricey asset protection kits that have forms for do-it-yourself asset protection (the real value of the materials is maybe $50).

Utah Statutory Creditor Exemptions

For additional detailed information on the use of life insurance, annuities, pension plans, and employee benefit plans for wealth preservation and asset protection, see advanced life insurance

Utah Homestead

• The homestead exemption limit on real property in Utah is $20,000. A couple may double that amount. A homestead declaration must be filed before the homestead is sold.

Statute

Utah Life Insurance

• Life insurance proceeds are exempt, if the beneficary is the insured's spouse or dependent.

Statute

Utah IRAs & Pension Plans

• Any money or other assets held for or payable to the individual as a participant or beneficiary from or an interest of the individual as a participant or beneficiary in a retirement plan (including, IRA & 401(k)) is exempt. Section 78-23-5(xiv).

Statute

Utah Fraudulent Transfers

For additional detailed information relating to fraudulent transfers, including the text of the Uniform Fraudulent Transfers Act, see fraudulent transfers

Utah Act

• Utah Fraudulent Transfers Act

Utah Fraudulent Transfer Cases

State Appellate Court

• Tolle v. Fenley
  132 P.3d 63, 2006 UT App 78, 546 Utah Adv. Rep. 34 (03/02/2006)

• Lakeside Lumber Products, Inc v. Renee Evans, Dan R. Evans, et al.,
  2005 UT App 87 (Utah App. 02/25/2005)

• Brigham Young University v. Tremco Consultants, Inc., et al.,
  2005 UT 10 (Utah 02/01/2005)

• Rappleye v. Rappleye,
  2004 UT App 290 (Utah App. 09/02/2004)

• Macris & Associates, Inc.,
  No. 20010755-CA (Utah App. 11/29/2002)

• Sittner v. Schriever,
  22 P.3d 784 (Utah App. 03/29/2001)

• Sittner v. Schriever,
  22 P.3d 784 (Utah App. 03/29/2001)

• Warner v. DMG Color, Inc.,
  20 P.3d 868 (Utah 12/29/2000)

• Macris & Associates, Inc. v. Neways, Inc.,
  16 P.3d 1214 (Utah 12/05/2000)

• Hodges v. Howell,
  4 P.3d 803 (Utah App. 06/08/2000)

• PGM, Inc. v. Westchester Investment Partners, Ltd.,
  995 P.2d 1252 (Utah App. 02/10/2000)

• PGM, Inc. v. Westchester Investment Partners, Ltd.,
  995 P.2d 1252 (Utah App. 02/10/2000)

• Bradford v. Bradford,
  993 P.2d 887 (Utah App. 12/16/1999)

• Cheves v. Williams,
  1999 UT 86 (Utah 09/10/1999)

• Macris & Associates Inc. v. Neways Inc.,
  986 P.2d 748 (Utah App. 07/22/1999

• Gildea v. Guardian Title Company of Utah,
  970 P.2d 1265 (Utah 11/24/1998)

• Sherry Jensen and Shayne Hipwell v. IHC Hospitals, Inc.,
  944 P.2d 327 (Utah 08/22/1997)

• Robert E. Wilcox v. Geneva Rock,
  911 P.2d 367 (Utah 02/02/1996)

• William C. Selvage & Wm. C. Selvage, Inc. v. J.J. Johnson & Associates,
  910 P.2d 1252 (Utah App. 01/19/1996)

• Lynda C. Baldwin v. Max D. Burton,
  850 P.2d 1188 (Utah 02/19/1993)

• Dennis E. Mcgoldrick v. Gordon D. Walker,
  838 P.2d 1139 (Utah 09/30/1992)

• Raymond P. L. Cannefax and Debra Cannefax
  v. Donald W. Clement and Ruth L. Clement,
  786 P.2d 1377 (Utah App. 02/02/1990)

• Territorial Savings & Loan Association v. John N. Baird,
  781 P.2d 452 (Utah App. 09/26/1989)

• Dahnken v. Harold Wilmarth,
  726 P.2d 420 (Utah 09/30/1986)

• Joyce M. Despain v. Robert v. Despain,
  682 P.2d 849 (Utah 05/01/1984)

Utah Trusts

For additional detailed information relating to the use of trusts for asset protection, including foreign and domestic asset protection trusts, see trusts.

Utah Trust Act (Non Self-Settled)

• Utah Trust Act

Utah Domestic Asset Protection Trust Statute

• Utah DAPT Act

Utah Business Entities

Utah Acts

• Utah Corporation Act
• Utah Limited Partnership Act
• Utah Limited Liability Company Act

Utah Charging Order Cases

• No cases yet

Utah Alter Ego & Corporate Veil Cases

• Nipper v. Douglas,
  2004 UT App 118 (Utah App. 04/15/2004)

• Armed Forces Insurance Exchange v Judi Harrison,
  70 P.3d 35 (Utah 04/25/2003)

• Aspenwood LLC v. C.A.T., LLC,
  73 P.3d 947 (Utah App. 02/06/2003)

• Diversified Holdings, L.C. v. Gilbert R. Turner,
  63 P.3d 686 (Utah 12/27/2002)

Useful Utah Links

For additional detailed information relating to financial frauds and tax scams, see http://www.quatloos.com

• Utah Attorney General
• Utah Department of Commerce
• Utah Department of Securities
• Utah Bar Association

The all-time asset protection

best seller is available from:

Amazon.com

Barnes & Noble.com

About AssetProtectionBook.com

This website is by far the largest and most comprehensive creditor-debtor and asset protection resource available anywhere. This website hosts thousands of pages of articles, cases, statutes, analysis, and many other resources to assist planners and judgment collection professionals in researching contemporary creditor-debtor issues.

While the articles and analysis on this website are most often drafted from a planner's point of view, creditor attorneys and judgment collection professionals will also find many of these resources to be highly useful. We have tried whenever possible to be balanced in our analysis by pointing out strengths and weaknesses in different structures and strategies from both the planner's and creditor's viewpoint.

This website was primarily created to support our book Asset Protection: Concepts and Strategies (McGraw-Hill 2004). Because of the publishing agreement with McGraw-Hill Companies, Inc., certain articles which were used as the basis for that book have been withdrawn from internet publication. It is suggested that the book be used as the primary resource, and that the other materials on this website should be used as supporting materials only as needed.

Available from

Amazon.com

and

Barnes & Noble