Why a Wyoming Trust Setting up a trust in Wyoming, a state of financial opportunity. Request a Consultation Wyoming: A State of Financial Opportunity for All Your hard-earned assets work for you best and longest in Wyoming, and you don’t have to live here to benefit from what Wyoming has to offer. The Kiplinger Report ranked Wyoming as the Most Tax-Friendly State in the U.S. Wyoming is an ideal place for asset growth and protection. It is becoming recognized by both domestic and international citizens as one of the most favored states in the U.S. – and in many cases, in the world – in which to maintain trusts. Tax Advantages Some benefits of setting up a trust in Wyoming, include: No state income tax on trust or personal income No tax on out-of-state retirement income No excise tax No intangibles or personal property tax No state gift of inheritance tax No corporate income tax No tax on mineral ownership Low property tax Longevity Near-perpetual trusts are possible here potentially avoiding transfer taxes for up to 1000 years. Asset Protection Wyoming allows broad asset protection by recognizing spendthrift provisions written into trusts, including self-settled trusts where the trust creator is also a beneficiary. Privacy Wyoming privacy laws allow you to keep your personal and trust information out of the public domain. Tax Advantages Some benefits of locating your trust in Wyoming include tax advantages. Residency You don’t have to live in Wyoming to establish or migrate a trust here. Appointing the Bank of Jackson Hole as your Wyoming sited fiduciary may be all that’s necessary. Investment Flexibility Wyoming expressly provides for directed trusts where assets and investments can be managed by a family office or managers other than the administrative trustee. Request a Consultation Bank of Jackson Hole cannot provide tax or legal advice. Please consult your tax advisor and/or legal counsel for guidance on how the information contained within may apply to your specific situation.
