District Court, Tooele Department The Honorable Robert W.
Adkins No. 134300466
Michael D. Black, Attorney for Appellant and Cross-appellee
L. Booher and Julie J. Nelson, Attorneys for Appellee and
Stephen L. Roth authored this Opinion, in which Judges,
Gregory K. Orme and Jill M. Pohlman concurred.
Keith Smith appeals from a divorce decree, claiming that the
trial court misinterpreted the terms of a family trust and,
as a consequence, improperly allocated certain property
between the spouses. We affirm.
Sharon Smith and Keith Smith married in 1979.
Sharoncame from a farming family with
sufficient assets to enable Sharon's mother to help the
couple financially from time to time. To protect and pass her
assets on to her children, Sharon's mother created the
Luveda Fincher Family Limited Partnership (the Family
Partnership), which included Sharon and her siblings as
limited partners. In 2002, Sharon's mother modified the
structure of the Family Partnership to begin distributing a
portion of its assets to her children on a monthly basis.
Sharon received distributions from the partnership for some
years during the marriage and used the money for family
In 2006, the Smiths drafted a family trust document to
shelter their real and personal property. The Smith Family
Trust was comprised of two constituent trusts-the Keith L.
Smith Trust and the Sharon L. Smith Trust. All assets
transferred into the Family Trust were to be part of one
spouse's individual trust as specified in the trust
documents, or, if neither individual trust were specifically
designated, the property would be "allocated equally
between [the individual trusts]." In connection with the
creation of the trust, the Smiths executed Schedule A, which
was attached to and incorporated by reference in the main
Schedule A is the focal point of this appeal and appears to
be the primary mechanism through which the Smiths funded the
Family Trust. Schedule A contains four subsections, each
covering a different category of property. Each subsection
includes an ownership designation. Specifically, Schedule A
provided that "property listed under the ownership
category KLS is the exclusive property of The Keith L. Smith
Trust, property listed as SLS is the exclusive property of
The Sharon L. Smith Trust, and property designated KLS &
SLS is owned equally by the two Trusts." The two
subsections of Schedule A relevant to this appeal read as
2. The following accounts in the following institutions,
together with all future additions, interest or accumulations
therein and also including all new accounts and the
accumulations and the future additions, interest or
accumulation in any and all other financial institutions in
which new accounts are opened in the future:
KLS & SLS A. Tooele Federal Credit Union [in
dividual account information ...