Asset Protection...Done Right!
Wyoming consistently ranks among the most preferred states in the nation in which to form, migrate, or resettle a trust. In the last decade, as families and wealth management professionals have begun to focus on the importance of selecting a jurisdiction with a favorable trust climate, Wyoming’s popularity as a trust situs has seen remarkable growth. Wyoming’s favored status stems from an enhanced version of the Uniform Trust Code and the following factors:
- Near perpetual trusts capable of avoiding transfer taxes for up to 1000 years
- No State Income Tax (and an extremely low probability of an income tax ever being enacted) on assets, asset appreciation and income held and accumulated in a Wyoming Qualified Spendthrift Trust
- No Corporate Income Tax - No Gift or Inheritance Tax - No Capital Gains Tax - No Tax on Mineral Ownership
- Privacy, including no Trust registration requirements and Limited Liability protection
The Wyoming Wealthcare Trust System
Asset Protection...Done Right!Wyoming consistently ranks among the most preferred states in the nation in which to form, migrate, or resettle a trust. In the last decade, as families and wealth management professionals have begun to focus on the importance of selecting a jurisdiction with a favorable trust climate, Wyoming’s popularity as a trust situs has seen remarkable growth. Wyoming’s favored status stems from an enhanced version of the Uniform Trust Code and the following factors:
- Near perpetual trusts capable of avoiding transfer taxes for up to 1000 years
- No State Income Tax (and an extremely low probability of an income tax ever being enacted) on assets, asset appreciation and income held and accumulated in a Wyoming Qualified Spendthrift Trust
- No Corporate Income Tax - No Gift or Inheritance Tax - No Capital Gains Tax - No Tax on Mineral Ownership
- Privacy, including no Trust registration requirements and Limited Liability protection
The Wyoming Wealthcare Trust System
- A Wyoming Unregulated Single Family Private Trust Company which is a family-owned (you, the Trust Settlor own it) enterprise that provides trust administration services similar to those provided by an individual or an institutional trustee. These services include fiduciary, investment advisory, wealth management, and administrative services. Includes Wyoming State filing fee, name approval by the Wyoming Division of Banking, and registration with the Secretary of State of Wyoming, 5 organizational documents, 1st year Registered Agent and Manager Service fee, Preparation of IRS Form SS4 for Trust Company EIN, unlimited phone support during regular business hours. M-F 9:00am - 4:00pm Mountain.
Note: Wyoming Trust Statute requires that all Wyoming Qualified Spendthrift Trusts have a "Qualified trustee." The Wyoming Unregulated Family Private Trust Company fulfills the Wyoming statutory requirement of W.S. § 4-10-103. Definitions at section (XXXV) "Qualified trustee") http://law.justia.com/codes/wyoming/2011/title4/chapter10/section4-10-103/
- A Wyoming Self-Settled Qualified Spendthrift (irrevocable) Trust Agreement that provides asset protection for assets held in Wyoming for non-Wyoming Trust Settlors when managed by a Wyoming- based person or a Wyoming Family Private Trust Company as Trustee, and includes: Self-settled Qualified Spendthrift Trust Agreement that is drafted for compliance with IRS Notice 2008-63; Settlor Memorandum of Wishes; Settlor Affidavit; Certificate of Trust; Preparation of IRS Form SS4 to obtain Trust EIN; Trust Organization Minute; Gifting Affidavit template for conveyance of private property (including currencies, securities, precious metals, etc.) to Trust; Sub-trust add-on permitted; Utilization of the Escrow Account of Outpost Provisioning LLC ( a transaction fee of one-half of one percent on each transaction applies, excepting bank fees and charges) subject to bank policy and cooperation; Unlimited phone support during regular business hours. M-F 9:00am - 4:00pm Mountain.
For people living in states with a state income tax on investment income, the Wyoming Wealthcare Trust System package will avoid state income tax on investment income retained in the trust in Wyoming, and it will avoid the disastrous effect of Medicaid Estate Recovery (subject to the three- year claw-back period), and it will protect assets from creditors and civil suits and judgements.
