Utah Statutes
§ 75B-1-310 — Distributions from asset protection trust.
(1)If the settlor makes more than one transfer to an asset protection trust, a distribution by the trustee is considered to be made from the most recent transfer to the trust.
(2)A trustee of an asset protection trust may convey property that is held in trust to a beneficiary of the trust, including the settlor, for the beneficiary to secure financing with a lien or other encumbrance against the property.
(3)If the property described in Subsection (2) is reconveyed to the trustee of the asset protection trust within 60 days after the day on which the lien or other encumbrance is attached, the reconveyance is not considered a transfer to the asset protection trust for purposes of calculating the limitations period under Subsection 75B-1-307(2) or for any other purpose.
Free access — add to your briefcase to read the full text and ask questions with AI
Utah § 75B-1-310 (Distributions from asset protection trust.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Enacted by Chapter 338, 2025 General Session
Nearby Sections
15
§ 75B-1-101
Definitions for title.§ 75B-1-102
Transition clause.§ 75B-1-201
Definitions for part.§ 75B-1-203
Income permitted to accumulate.§ 75B-1-301
Definitions for part.§ 75B-1-302
Asset protection trust. -- Governing law.§ 75B-1-303
Requirements for asset protection trust.§ 75B-1-304
Application of asset protection trust.§ 75B-1-305
Illusory agreement.§ 75B-1-306
Affidavit of solvency.