On January 23, 2017, Gail Miller and her family announced they had transferred both the Utah Jazz and Vivint Smart Home Arena to a “Legacy Trust”. Per Gail Miller, the move was “part of a big package of estate planning. But it's one part that's all done and it will last forever, as long as we have people who are willing and able to take care of it."
Below is the legacy trust announcement video:
As a Jazz fan who is an accountant with a Masters degree in Taxation, the move intrigued me, and I thought I’d provide some insights from an outsider’s perspective.