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Utah Trust Attorney
Utah Trust Attorneys with Ascent Law can help you setup a revocable or irrevocable trust to meet your needs and objectives. Trusts are legal instruments that can hold and manage property. Instead of owning property in your personal name, you transfer owners to a trustee in trust. The trustee (which may be the same person who creates the trust) then manages the property according to the terms of the trust.
Trusts are incredibly powerful because they can provide asset protection, avoid probate, reduce or eliminate estate taxes, make your assets more transparent from creditor searches, and allow for significant control over the management of the property–even after death. While Trusts can be an effective asset protection tool, not all trusts offer asset protection.
There are different types of trusts. Revocable trusts are amendable and can be revoked or eliminated. Irrevocable trusts can potentially be amended, but they can’t be revoked. The right type of trust depends on a myriad factors, goals and circumstances. Common trusts include:
- Revocable Living Trust
- Gun/Fire Arm Trust
- Charitable Trust
- Life Insurance Trust
- Special Needs Trust
- Generation-skipping Trust
- Asset Protection Trust
- QDOT (for non-citizens)
Our experienced Utah trust attorneys can counsel with you about your objectives and circumstances to tailor the right estate planning vehicles for your situation. We will help you ensure that your assets are distributed, and your wishes are followed in a controlled way.
No matter what type of estate planning issue you face, attorneys at Ascent Law are here to help you through it.
- Wills
- Revocable Living Trusts
- Probate
- Trust Administration
- Gift & Estate Tax
- Special Needs Trusts
- Retirement Planning
- Utah Asset Protection Trust
- Charitable Planning
- Fire-arm or Gun Trust
- QDOT For Non-Citizens
- Powers of Attorney
- Guardianships
- Lifetime Gift Planning
- Business Succession Planning
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What is a bridge loan? A bridge loan is a short-term temporary financing option that typically has a loan maturity of 18 months or less. Bridge financing provides fast access to cash ordinarily used by a borrower purchasing a property to bridge the finance gap between the sale date of the current property and the completion date of the new property. However, bridging loans are ordinarily a financing means of last resort given that they come with much higher interest rates than traditional mortgages and are typically offered by advisers, specialist bridging finance companies and mortgage brokers and are not normally offered by high street banks. Failure to repay a bridge loan will likely lead to repossession and very significant adverse costs consequences.
Utah bankruptcy exemptions protect certain property in bankruptcy. Let us help protect your property in bankruptcy.
Estate planning is very important and only a few people make an effort to understand the basic concept and the importance of estate planning. Some basic facts and tips regarding the same are as follows:
