Wyoming is one of the only states in the United States that provides for an unregulated trust company. In addition, Wyoming offers clients many modern trust laws and is consistently rated one of the top jurisdictions for tax, trusts and asset protection.
Wyoming’s favorable tax laws:
- No individual or corporate income tax
- No capital gains tax on trust income
- No state gift tax
- No state estate tax
- No intangible taxes
- Low property tax
- 75 bps premium tax
Wyoming’s favorable modern trust laws include:
- Dynasty Trust: A 1,000-year duration on trusts (Rule Against Perpetuities)
- Purpose Trust Statute:
- A trust that is created for a purpose rather than for a specific beneficiary.
- Decanting and Reformation/Modification
- Beneficiary Quiet
- Strong and Private LLC Laws
- First state in the U.S. to codify LLCs. In addition, “charging order” protection as the sole and exclusive remedy which is generally considered the most desirable. A charging order only gives a creditor the rights of a partnership or LLC interest, and it does not give a creditor any voting rights.
- Self-Settled Domestic Asset Protection Trust (DAPT) Statute:
- One of only 17 states that provides Self-Settled DAPTs which allow the grantor to be a permissible discretionary beneficiary.
- Trust Protector Company/Special Purpose Entities (SPEs)
- Works with qualified trustee and houses the trust protector, the investment and/or distribution committees or advisors of a directed trust.
- Accredited Division of Banking – Conference of Bank Supervisors
- Investment Advisor Registration:
- Wyoming does not require the mandatory registration of investment-advisers even if an adviser is not registered with the SEC.