Why Should Young Parents in Utah Consider a Living Trust?

Every parent has a running list of what needs to be protected: the kids buckled in the backseat, the house that holds the bedtime stories, the savings account meant for future soccer cleats and science fairs. 

A living trust is simply another way to protect that list, even when you’re not around to do it yourself. Yet most families haven’t written a plan down. 

A 2024 Caring.com survey found that only 32% of American adults have any sort of estate planning document in place, even though 64% say it’s important. Parents with minor children are among the least likely to have a plan, despite being the ones who benefit most. 

Utah families, especially those buying homes or growing their households, have every reason to get ahead of that gap. In this guide, you’ll learn:

• What a living trust is and how it works under Utah law
• Why is it one of the best tools for protecting children’s inheritance
• How it avoids probate delays and court involvement
• What young parents should include in a trust today
• When to work with a Utah estate planning attorney for support

What Are Living Trusts in Utah?

A living trust is an estate planning tool that lets Utah parents keep control of their property now, while also deciding exactly how it will be managed and passed on later. You can place assets like your home, bank accounts, investments, or family keepsakes into the trust, and still use them just as you do today.

The key difference between a trust and a will? A trust begins working while you’re alive. 

That offers protection not only after death, but also if something unexpected happens along the way.

Revocable Living Trusts: The Utah Standard

Most young parents in Utah choose a revocable living trust. This type of trust:

• Can be changed or revoked at any time
• Allows you (the parents) to serve as trustees and decision-makers
• Name a successor trustee who steps in only if you can’t

You stay in full control. The trust simply adds a safety net beneath your daily life.

What Happens if Something Goes Wrong?

If either parent becomes ill, injured, or otherwise unable to manage finances:

A successor trustee you chose, not a court-appointed stranger, seamlessly takes over. Bills get paid, mortgages stay current, and your children’s needs continue to be met without delays or court involvement.

That quick transition is something a will alone cannot provide.

Key Benefits of a Living Trust for Utah Parents

The biggest advantage of a living trust is peace of mind. You know that if something disruptive happens, your kids and your home life don’t have to unravel while the courts catch up. 

A trust makes sure the right person is in charge immediately, without legal delays or uncertainty.

Avoiding Probate Process in Utah

When someone passes away with only a will, Utah requires the estate to go through probate. That’s a court-supervised process that can take months and make the family’s financial affairs public. 

This means delays in covering expenses like mortgage payments or childcare, and added stress when your family is already grieving.

A living trust bypasses the costly probate process entirely. Assets can be accessed quickly, managed responsibly, and kept out of public records, allowing your children to remain financially supported without interruption.

Keeping Your Family’s Life Private

Wills filed in probate become part of the public record in Utah. Anyone can see:

• What assets did you own
• What they were worth
• Who inherited them

A trust protects your family’s privacy and prevents sensitive information from becoming searchable, a major advantage for those with minor children.

Control Over How and When Children Receive Inheritance

Young kids can’t inherit money directly. Without a trust, a court may need to step in and appoint someone to manage their assets, and that person may not be who you would choose.

With a living trust, you set the rules:

• How funds should be used for your child’s health, education, and support
• Who will manage the assets
• When your child will receive control, whether that’s 18, 21, 30, or based on milestones

This structure protects children from financial hardship early and financial mistakes later.

Reducing Tax Burdens as Your Estate Grows

While Utah does not impose a state estate tax, federal estate taxes can come into play for higher-value estates, especially as home equity and retirement savings grow over time.

A revocable living trust creates a foundation for smart planning, making it easier to add future tax strategies that reduce estate taxes and preserve more of what you’ve built for your children. A trust can also help avoid unnecessary income taxes on certain inherited assets by directing how and when funds are used or distributed.

As your financial picture changes, your trust can adapt, helping your family benefit from tax-efficient decisions long before they face bigger tax consequences later in life.

Protecting Your Children’s Inheritance

A living trust gives Utah parents the ability to protect children’s assets long before they’re old enough to manage money. It removes guesswork, prevents court involvement, and enforces the exact structure you want for your children’s future.

Why a Will Alone May Fall Short

A standard will can name a guardian and outline who inherits what, but it does not dictate how a minor’s inheritance is handled. 

When parents pass away with only a will:

• The court may need to appoint someone to oversee the funds
• Assets might be distributed at age 18, long before many teens are ready
• Family disagreements can lead to delays and legal fees

In short, a will can transfer assets, but it doesn’t guarantee those assets are protected.

Trust Funds for Minors in Utah

A living trust solves those issues by placing a trusted adult (the successor trustee) in charge of managing the assets for your children’s benefit. You decide:

• What the money can be used for (school, health, living costs)
• When your children can take full control
• How to protect funds from misuse or outside influence

For families with kids under 18, this structure is foundational.

Estate Planning for Young Parents

A living trust is one part of a complete safety plan for your family. 

It protects your assets, but young parents also need to decide who will care for their children and how financial decisions will be carried out if something unexpected happens.

Choosing Guardians Who Share Your Values

If you and your partner were suddenly unable to care for your children, someone else would need to step in immediately. Utah law allows parents to nominate a guardian, but without clear legal instructions, the court has to make the final decision. 

A trust allows you to create a legal document of your wishes and give the court strong guidance about who should raise your children, reducing uncertainty during an already emotional time.

Planning for Incapacity, Not Just the Worst-Case Scenario

Accidents and medical emergencies don’t wait until the kids are grown. A living trust supports your family while you’re still alive if you become unable to manage your finances. 

The successor trustee you choose keeps life running: paying the mortgage, covering school costs, keeping the heat on in winter. When paired with powers of attorney and health care directives, your family has a plan for every kind of crisis, not just the final one.

Choosing Between a Will and a Living Trust

Wills and living trusts both have a place in estate planning, and many Utah parents use both. But when children are involved, the differences become far more meaningful.

Why Many Young Parents Prefer a Revocable Living Trust

A revocable living trust will distribute property someday and keep your family’s life running smoothly if something happens tomorrow. You can update it as your family grows, add newly purchased assets, and stay in full control of everything while you’re healthy.

Because a trust avoids probate, your designated successor trustee can step in right away. That stability is invaluable if there’s a mortgage to cover, daycare payments coming due, or children whose needs can’t wait for a court timeline.

When a Will Alone Isn’t Enough

A will remains useful for things like naming a guardian. But if a will is the only planning tool in place, your family will almost certainly face probate court.

And with minor children, a judge may have to appoint a conservator to manage their inheritance until they turn 18.

That means delays, legal oversight, and asset control shifting to someone you didn’t choose. A trust keeps those decisions where they belong: with you.

Working With a Living Trust Attorney in Utah

A living trust is one of the most meaningful legal steps you’ll take as a parent. The right guidance helps ensure it actually protects what you built it to protect. 

A trust that isn’t properly written or fully funded may give families a false sense of security and leave children vulnerable to court delays later.

What a Utah Trust Attorney Can Help You Do

A knowledgeable estate planning attorney will take the time to understand your home, your finances, and your values so the trust reflects how you want your children raised and supported. 

They’ll help you transfer assets into the trust  (an essential step that DIY forms often leave out), and make sure guardianship wishes, health care directives, and financial powers are coordinated.

Because a trust must evolve as a family grows, ongoing support matters too. When you welcome a new child, buy a home, change jobs, or build savings, an attorney can update your documents and keep your plan aligned with your life.

Protect What Matters Today, and Tomorrow

Young families grow fast. A plan that’s clear today can become outdated in just a few years. A living trust gives you control, keeps your children’s inheritance secure, and removes uncertainty from moments that shouldn’t involve courtrooms or paperwork.

At Henriksen Law, we help Utah parents build estate plans that support the everyday realities of raising kids and the future milestones still to come. We’ll structure your living trust to stay flexible as your family changes, ensure your assets are fully protected, and provide guidance whenever life moves forward.

Start now, while the future is bright. Contact Henriksen Law today.