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Utah · Through 2026 General Session

Utah Code § 75B-1-306: Affidavit of solvency.

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Where this section sits in the code
  1. Title 75B Trusts
  2. Chapter 75B-1 General Provisions
  3. Part 75B-1-3 Asset Protection Trust

With respect to a transfer of assets to an asset protection trust, a settlor may sign a sworn affidavit stating that at the time of the transfer of the assets to the trust:

(1) the settlor has full right, title, and authority to transfer the assets to the trust;

(2) the transfer of the assets to the trust will not render the settlor insolvent;

(3) the settlor does not intend to hinder, delay, or defraud a known creditor by transferring the assets to the trust;

(4) there is no pending or threatened court action against the settlor, except for a court action identified by the settlor on an attachment to the affidavit;

(5) the settlor is not involved in an administrative proceeding that is reasonably expected to have a material adverse effect on the financial condition of the settlor, except an administrative proceeding identified on an attachment to the affidavit;

(6) at the time of the transfer of the assets to the trust, the settlor is not in default of a domestic support obligation;

(7) the settlor does not contemplate filing for relief under the provisions of United States Code, Title 11, Bankruptcy; and

(8) the assets being transferred to the trust were not derived from unlawful activities.

Collected 2026-09-03T11:34:34Z. Source file · JSON

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