Utah Code 75-7-416. Modification to achieve settlor’s tax objectives
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Terms Used In Utah Code 75-7-416
- Court: means any of the courts of record in this state having jurisdiction in matters relating to the affairs of decedents. See Utah Code 75-1-201 v2
- Trust: includes :(60)(a)(i) a health savings account, as defined in Section 223of the Internal Revenue Code;(60)(a)(ii) an express trust, private or charitable, with additions thereto, wherever and however created; or(60)(a)(iii) a trust created or determined by judgment or decree under which the trust is to be administered in the manner of an express trust. See Utah Code 75-1-201 v2
To achieve the settlor’s tax objectives, the court may modify the terms of a trust in order to achieve the settlor’s tax objectives. The court may provide that the modification has retroactive effect.