​Wyoming Trusts: A Superior Combination of Strength, Stability and Continuity
Wyoming’s legislative and institutional advantages are the backbone of Wyoming trusts:
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0% state tax.
Wyoming does not impose income, capital gains, estate, corporate or gift tax.
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Directed trust laws.
These powerful laws allow for the creator of the trust (the “settlor”) to retain complete control over all investment decisions for the trust’s assets.
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Strong privacy laws.
No trust registration requirements. Members and Managers (owners and controlling parties) of LLCs are entirely private.
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Complete asset protection.
Assets are protected from creditors as soon as they are placed into trusts.
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Extraordinarily flexible trust laws.
Unlike the majority of states, which require court approval for most trust modifications and/or restrict changes based on a trust’s age, Wyoming offers exceptional flexibility; it allows most trust changes to be made privately without court involvement, permits trustees to revise trusts in conjunction with decanting (the transfer of assets from one trust to another), and does not place age-based limits on changes.
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The minimization of litigation risk.
Wyoming enjoys a fast and efficient court system with an overwhelmingly conservative judiciary that upholds the letter of the law. Frivolous cases are seldom filed in Wyoming, or, if filed, experienced judges render swift, disciplined rulings.
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Fiscally sound, pro-business government.
The Wyoming legislature, in collaboration with the trust industry, continually identifies appropriate opportunities to refine existing laws and create new, forward-thinking statutes. Additionally, Wyoming maintains lasting fiscal stability through a strict balanced-budget rule, large savings reserves, one of the highest financial surplus positions in the nation, and steady investment income, allowing the state to operate durably and plan for the long term.
Jackson Hole Trust Company
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185 W. Broadway, Suite 101
P.O. Box 1150
Jackson, Wyoming 83001
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New Business & Inquiries About Our Services
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Aaron Sones
307.349.6883
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With the above advantages, Wyoming trusts maximize the benefits of long-term wealth planning strategies such as:
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Gift Trusts.
The trust creator (the “settlor”) can utilize the lifetime federal gift tax exemption to gift up to $13.99M tax-free to a trust. (The current exemption is $13.99M and can fluctuate over time.) Married couples can gift $13.99M each for a total of $27.98M. These assets, including all growth above the initial gift, will be free of estate tax.
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Dynasty Trusts.
These trusts use the same gift structure as above but are designed to continue for generations, allowing assets and their growth to remain outside of estate tax for hundreds of years.
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Wyoming Incomplete Gift Trusts (WINGs).
WINGs allow the settlor to transfer assets to a Wyoming trust without completing a taxable gift. WINGs can mitigate state income tax.
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Charitable Trusts.
These are tools that enable donors to benefit charitable organizations while reducing income and estate taxes and preserving family wealth.
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Asset Protection Trusts.
Assets transferred to a Wyoming asset protection trust are safeguarded from future creditors while allowing the settlor to remain a discretionary beneficiary and serve as the Trust Adviser.
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Life Insurance Trusts (ILITs).
An ILIT uses the gift tax exemption to fund life insurance premiums. The policy’s proceeds pass to beneficiaries free of estate tax.
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Irrevocable Trusts for Shares in Private Companies.
These trusts reduce or eliminate estate tax, mitigate state income tax, minimize litigation risk and provide asset protection; such advantages are particularly valuable when holding shares in a private company approaching an IPO or other liquidity event.