Afleveringen
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Most people assume asset protection is for the ultra-wealthy â offshore trusts, Cayman Islands, $50,000 to set up. It's not. And for Utah residents, there's a tool right at home that delivers the same core protection at a fraction of the cost.
In this episode, Nathan Croxford and Brian Edwards break down the Utah Domestic Asset Protection Trust â what it is, how it works, and why fewer than half of U.S. states even offer it. They cover who it's actually built for (small business owners, landlords, professionals with liability exposure), how the distribution trustee structure is what makes creditor protection legally bulletproof, and why the window to set one up closes the moment a lawsuit begins.
Key Takeaways:
The Offshore Alternative: How a Utah DAPT delivers comparable protection to an offshore trust at a fraction of the setup cost â with no foreign trustee fees or IRS international filings.The Distribution Trustee: Why separating distribution authority from trust management is the legal mechanism that keeps creditors out â and what happens if you skip it.The Seasoning Period: Utah's two-year clock for existing creditors, how it can be shortened to 120 days, and why future creditors are protected from day one.What You Actually Keep: The investment control, veto powers, and flexibility that make an irrevocable trust far less restrictive than most people expect.Nathan Croxford and Brian Edwards are practicing attorneys at Voyant Legal in Utah. This episode is for educational purposes only. Visit voyantlegal.com or call 801.951.0500.
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A living trust that was never funded doesn't avoid probate â it just delays it. Most Utah families who go through probate anyway had a trust sitting in a filing cabinet the whole time. The document isn't the plan. The funding is.
In this episode, Nathan Croxford and Taylor Stone walk through exactly why 7 out of 10 living trusts fail at the worst possible moment, and give you a step-by-step checklist to make sure yours actually works.
Key Takeaways:
The Attorney-Client Gap: Why most trusts go unfunded â and why both sides assume the other one handled it.Asset-by-Asset Funding: What proper funding looks like for real property, bank accounts, retirement accounts, life insurance, vehicles, and business interests under Utah law.The Retirement Account Exception: Why retitling your IRA into a trust triggers immediate income tax on the entire balance â and what to do instead.The Refinancing Trap: How a routine mortgage refinance silently removes your home from your trust â and how to make sure it gets put back. -
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Leaving everything to your spouse and "trusting them to do right by your kids" isn't a planâit's a wish. In a blended family, a standard will is a ticking time bomb. Under Utah law, a surviving spouse who inherits outright has full legal ownership and can completely disinherit your biological children, intentionally or not.
In this episode, Michael Haslam and Taylor Stone break down the exact tools needed to guarantee financial security for your spouse and protect your children's inheritance.
Key Takeaways:
The Remarriage Risk: How remarriage can automatically revoke your prior will under Utah Code § 75-2-301.The QTIP Trust: The single most important tool to provide lifetime income for a spouse while locking in the principal for your biological kids.Neutral Trustees: Why naming a spouse as sole trustee triggers family conflict.Three Real Scenarios: Walkthroughs of classic failures involving remarriage, stepchild friction, and special needs asset disqualification. -
Roughly 1 in 4 Americans over 50 has no children. That translates to 22 million adults aged 60+ living alone without a traditional family support systemâthe highest rate in the world.
Despite these numbers, the estate planning industry remains stuck in the past. Nearly every YouTube case study, law firm FAQ, and resource guide assumes you have children ready to step in. For Solo Agersâincluding never-married professionals, divorcees, widows, and those who simply chose not to have childrenâthe standard playbook is broken.
Redefining the Four Essential QuestionsWhen "my kids" isn't an option, the four pillars of an estate plan require entirely different strategies:
Financial Management: Who oversees my assets if I cannot?Medical Advocacy: Who makes life-and-death healthcare decisions?Trustee Succession: Who ensures my final wishes are honored?Final Arrangements: Who manages my legacy and funeral?In this episode, weâre throwing out the generic templates and building a playbook from scratch specifically for Utahâs Solo Agers. Whether you are looking toward professional fiduciaries or trusted friends, itâs time to create a plan that reflects your actual life.
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A family wakes up to smoke filling their home. They escape safely. The fire department saves part of the structure. They file an insurance claim expecting help rebuilding.
Then the surprise: only their personal belongings are covered. The house itself is denied.
Why? The home had been transferred into a trust, but the trust was never added to the insurance policy. The insurer argues the named individual no longer has an insurable interest in the structure, leaving the family caught in a technical gap with massive financial consequences.
This happens more often than people think. After the January 2025 Los Angeles wildfires, more than 37,000 claims were filed, and trust and insurance mismatches became one of the most common dispute triggers.
The trust was set up correctly. The deed was transferred. One simple step was missed: updating the insurance policy.
In this episode, Nathan and Brian break down:
⢠How this coverage gap happens
⢠Why transferring your home to a trust can create unintended risk
⢠What insurance companies look for when evaluating claims
⢠The simple fix that can prevent a catastrophic denial
⢠What to check today if your home is in a trustIf your home is in a trust or youâre considering one, this is a must-watch.
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In this episode, Michael Haslam and Brian Edwards discuss why your legacy deserves the same level of professional coordination as a successful business or a championship sports team. For too long, families have suffered from a "fragmented team" approach, where CPAs, attorneys, and financial advisors operate in silos, leading to missed opportunities and millions in overpaid taxes. Michael and Brian explain that the family office model is no longer only for the ultra-wealthy; by combining all of your tax and financial information under one roof, you ensure every professional is working from the same playbook. Thatâs why we introduced the Legacy Officeâa strategy that has been very successful with our clients by providing the high-level synergy and CEO-style oversight needed to protect and grow a lasting legacy.
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A new federal reporting rule is changing how some real estate transactions are reported to the government. But what does it actually mean for homeowners and estate planning?
In this episode of the Legacy Lawyers Podcast, we break down FinCENâs new real estate reporting requirements, why the rule exists, and which property transfers are typically exempt. We also explain how real estate owned through entities like LLCs may be treated differently.
If you own property or are planning your estate, this episode will help you understand what to know moving forward.
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Starting a nonprofit takes more than good intentions. In this episode, we break down what it really means to build a 501(c)(3) the right way, from clarifying the mission to setting up the proper structure and governance.
We discuss why mission should always come first, how structure supports long term impact, and the common mistakes organizations make early on.
If you are thinking about launching a nonprofit or serving on a board, this conversation will give you a practical foundation to build on. -
Section 8 housing rules can be confusing, especially when an inheritance is involved.
In this episode, Mike Haslam and Taylor Stone discuss how subsidized housing works, what changed under the new regulations, and why inheritances can create serious problems for people receiving government benefits.
They walk through asset limits, income considerations, and how proper estate planning including special needs trusts can help protect housing, Medicaid, and other benefits.
This is an important conversation for families planning ahead and for anyone with loved ones who rely on government assistance. -
Retirement accounts don’t always go where you expect, especially when cognitive decline becomes an issue.
Nathan and Brian discuss how beneficiary designations, tax rules, and retirement trusts intersect, and how the right planning can protect both the assets and the people relying on them. -
In this podcast episode, hosts Michael Haslam and Brian Edwards discuss the recent changes to Utah's healthcare directive law, including the new standardized form and its implications for healthcare decision-making. They explore the importance of having a healthcare directive, the changes in the form's structure, and the introduction of surrogates for decision-making when no agent is available. The conversation emphasizes the need for individuals to review and update their healthcare directives, especially in light of the new law, and encourages listeners to take proactive steps in their healthcare planning.
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In this episode, Nathan Croxford and Taylor Stone discuss the legacy of Tony Hsieh, the founder of Zappos, and the implications of his estate planning decisions following his untimely death. They explore the discovery of a will five years after his passing, the complexities surrounding it, and the lessons that can be learned about estate planning. The conversation emphasizes the importance of early and thorough estate planning, involving family in discussions, and the potential pitfalls of neglecting these crucial decisions.
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In a Halloween-themed discussion, Mike and Brian talk about the “scary” consequences of not properly maintaining an LLC, focusing on a real-life case where an owner lost personal liability protection.
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đď¸ AI vs. Attorneys: Can ChatGPT Replace a Lawyer?
Mike Haslam and Taylor Stone revisit their popular “Is AI Smarter Than a Lawyer?” challenge to see how far artificial intelligence has come since their first test in 2023. They quiz ChatGPT on Utah estate planning questions—trusts, small estate rules, and special needs planning—and uncover where AI gets it right, where it misses key legal details, and why a trusted attorney is still essential for protecting your family. -
Family cabins carry deep memories but they can also create conflict if not planned for carefully. In this episode Mike Haslam and Connor Cottle share five key considerations to help families preserve their cabins, avoid disputes, and keep traditions alive for future generations.
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In this episode of the Legacy Lawyers Podcast, Nathan Croxford and Brian Edwards look at the estate of rock legend Ozzy Osbourne to uncover valuable lessons in planning ahead. They talk about how Sharon Osbourne helped structure his assets and likeness, why it is important to keep an estate plan updated over time, and how trusts can provide for children without turning them into “trust fund babies.” Along the way, they compare Ozzy’s approach with other celebrity cases including Prince, Robin Williams, and Philip Seymour Hoffman to show both the mistakes and the successes that families can learn from to protect their own legacies.
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In today’s episode, Nathan Croxford and Connor Cottle discuss the best way to handle your bank accounts when planning for the future. They explain why keeping your accounts in your name provides clarity, protection, and ease for your loved ones. Tune in to learn the proper approach and how it can simplify things for everyone involved.
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In this episode, attorneys Brian Edwards and Nathan Croxford discuss a case where a man and his girlfriend bought a house together, but the deed didn’t specify joint tenancy or list a trust. Legally, that meant they likely held the property as tenants in common, each owning 50% without survivorship rights. When the girlfriend died intestate—without a will or trust—her share had to go through probate and be divided among her children. Brian and Nathan explain how failing to align your deed with a clear estate plan can create major legal and financial complications.
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Today in this podcast we break down complex estate planning topics into clear, actionable insights. In today’s episode, we’re diving into 'The One, Big, Beautiful Bill' — what it is, how it could reshape the estate planning landscape, and most importantly, what it means for your taxes. Whether you're planning your legacy or helping clients plan theirs, you won’t want to miss this!
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In this episode Nathan speaks with Taylor Stone, on unpacking the latest changes in the law around joint tenancy. If you co-own property with someone—whether it's your partner, a friend, or a business partner—these new rules could have a big impact on your rights and responsibilities.
We break down what joint tenancy really means, how the new legal updates affect things like survivorship, ownership splits, and even what happens if one party wants out. - Laat meer zien
![The Utah Domestic Asset Protection Trust: A Tool Most States Don't Have [Ep. 133]](https://is1-ssl.mzstatic.com/image/thumb/Podcasts221/v4/0a/d7/71/0ad7713f-a131-5db0-56c6-058c4e15712c/mza_9070073779904103140.jpg/80x80bb.jpg)