Wyoming Asset Protection Trust $3000 & Private Trust Company

Wyoming asset protection trusts & Private Trust Companies

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Why form an asset protection trust?

Chances are you have fire insurance for your home, but when is the last time you had a fire? Credit events are more likely and can cost much more than just your home. Some events are foreseeable and others aren’t, but most individuals will experience at least one in their lifetime. Given such odds it makes little sense to roll the dice. So if you’re serious about protecting your assets, then there is no reason to have fire insurance while failing to establish a Domestic Asset Protection Trust.

Why Choose a Wyoming Trust?

Wyoming's popularity as a trust situs arose from a conscious effort by the State's legislature. Our state allows complete privacy, does not tax income and recognizes self-settled trusts. Maintenance costs are less than half of a Nevada trust and a third of Delaware's. Credit protection begins immediately with no waiting period. We also allow regulated and unregulated trust companies. You can easily act as your own trustee - further reducing costs and enhancing privacy. The state's benefits include, but are not limited to:

  • Self-Settled, Qualified Spendthrift & Discretionary Trusts are allowed
  • Credit Protection Begins Immediately - No Waiting Period
  • No Income, Gift, Excise or Intangible Taxes
  • Minimal Insurance Premiums
  • Multi-Generational & Perpetual Trusts
  • No Minimum Capital Investment
  • Trust Protector & Decanting Statutes

Why choose Cloud Peak Law to form your trust?

Our attorney, Mark Pierce, helped craft the State's statutes on trusts. He jokes this means he did a lot of work for no pay. In truth, it means you will be in the hands of somebody who knows how to make the law work for you. Our firm opened its doors in 2003 and has focused exclusively on estate planning and wealth management. We form hundreds of trusts each year. Our prices are as follows:

  1. Wyoming Trust - $3000
  2. Private Trust Company - $2000


A Domestic Asset Protection Trust (DAPT) allows you to create a Trust for yourself and transfer your assets into that trust as protection against creditors.  A domestic trust attractive for those seeking to protect assets without losing control, naming third party beneficiaries, or moving assets to an offshore trust jurisdiction.

After the transfer the trust owns the assets - not you. You are merely a beneficiary who controls the trust. Put simply, this means if a creditor pursues you they may not seize the trust's assets as they are no longer owned by you.

Domestic Asset Protection Trust Requirements?

The requirements of a Domestic Asset Protection Trust include:

  • A Wyoming DAPT (Qualified Spendthrift Trust) is formed by you under Wyoming law.
  • There must be at minimum one qualified trustee serving as Trustee.  You may not be a trustee.
  • The trustee must either be a resident of Wyoming or a person or institution authorized by Wyoming to act as a Trustee, i.e., a professional trustee.
  • A “Wyoming Private Trust Company” may be established to serve as the qualified trustee, and the client’s advisors in the client’s home state may serve an as Manager, Officer, Director, or agent of the Wyoming Private Trust Company.
  • You may remove and replace Trustees as you wish.
  • The trust is irrevocable, but modifications can be made, including but not limited to adding and removing beneficiaries and trustees.
  • The trust must name beneficiaries, which can include you, your family, friends and charities.
  • The Trustee generally retains the authority to invest, manage, and make distributions to beneficiaries; however, this authority must be in the Trustee’s sole discretion.
  • You may, however, act as investment advisor. An investment advisor can approvde, disapprove and direct a Trustee’s actions and inactions regarding the investing of trust assets and direct the management of all trust investments.
  • You may veto distributions.

What property can be protected by a trust?

The Wyoming Asset Protection Trust protects almost any type of property; however, when conducting the transfer, you must affirm as follows:

  • You have the full authority, right and title to transfer the property;
  • The transfer will not make you insolvent;
  • You do not intend to defraud creditors via the transfer;
  • You are not in, or have been threated with, cort action, except those identified within the affidavit;
  • When transferring you may not be behind on child support more than 30 days;
  • You are not contemplating filing for Bankruptcy; and,
  • You must have and maintain the lesser of personal liability insurance of at minimum one million dollars or the fair market value of the trust transfers, whichever is less. This generally amounts to no more than $200-$400 per year.

What Assets Cannot be Protected?

A DAPT does not protect the following assets:

  • Property ordered for Child Support payments
  • Property directly listed on a credit application
  • Property fraudulently transferred pursuant to the Uniform Fraudulent Transfer Act if there is a claim within the statute.
  • Property is not protected from bankruptcy if transferred to defraud, delay or hinder if the transfer's within the statute.

Do Wyoming Trusts have any risks?

  • Conflict of Laws. Every state's trust laws are different. There are states which do not allow self-settled trusts, or do not have as beneficial of terms. There exists little precedence for how courts shall decide when the laws of states conflict. It is, therefore, advisable to take one of two courses. First, you establish a Domestic Asset Protection Trust in your state of residence. If your state does not have favorable trust laws, then assets should be held within Wyoming via a business entity, bank etc.
  • Full Faith and Credit Clause. This clause of the U.S. Constitution requires states provide full credit and faith to laws from other states. The concern is if an out of state court rules against an asset protection trust and the creditor attempts to pursue the Trustee. This matter has yet to be addressed by the courts.
  • < strong>Bankruptcy. There is a ten year look back period for transfers to trusts with the intent of hindering, delaying or defrauding a creditor. If you were found to be intentionally hindering, delaying or defrauding an investor, then the assets in the trust will not be protect from bankruptcy proceedings for ten years.

Wyoming Private Trust Company

You may have concerns over the costs of hiring an Independent Trustee and turning control of the Trust and its assets over to a Trustee you do not have a working relationship with.  The alternative is to establish a Wyoming Single Family Private Trust Company to serve as Trustee. A Private Trust Company has the following benefits:

  • Formation.  The Wyoming Single Family Private Trust Company (“WPTC”) is either a Wyoming LLC or corporation established specifically to serve your family and may not serve the public.
  • Ownership.  The owner and manager is you and/or members of your family.
  • The Committees.  Your Family Trust Company designates committees relating to the administration and operation of your trust, which include an Distribution Committee, Trust Administration Committee and Investment Committee.
  • Wyoming Benefits.  Wyoming is a premier state for this since the Trustee is easy to form and administrate with zero contribution requirements and there no State oversight.  Most other states have minimum required contributions of between $200,000 and $500,000 and have significant regulation.  This makes Wyoming the most attractive state to form a Family Trust Company to act as Trustee of your DAPT or other family trust.
  • Service Agreements.  The WY PTC can enter agreements with advisors for investment and financial decisions. They may also contract with trust companies, family offices, accountants, and attorneys regarding administration.
  • Operating Agreement. The Single Family Private Trust Company is governed by it's operating agreement if it's an LLC, and by its Bylaws if it's a Corporation.

Wyoming Family Office

Beyond establishing a Wyoming Private Trust Company, you will be required to establish a Family Office to manage and administer your Wyoming Private Family Trust Company, family trust assets, and closely held businesses. We provide the following family office services:

  • Forming a Private Trust Company
  • Registered Agent Services
  • Physical Address in Wyoming
  • Mail Scanning & Forwarding
  • Wyoming Phone Number
  • Wyoming Domiciled Bank Account
  • Assistance with Wyoming Secretary of State filings.
  • Counseling of family members regarding assets and trusts.
  • Coordination with advisors, professionals and managers.

A Wyoming Single Family Private Trust CompanyMay Be Trustee of the following types of Trusts:

  • DAPT.  It is required at minimum one Trustees be incorporated under or be a resident of Wyoming.  Rather than hire a WY Resident, Bank, or Public Trust Company, you may form a WPTC to act as Trustee.
  • Wyoming Dynasty Trust.  The WPTC may also serve as Trustee of a Wyoming Dynasty Trust.  In order to establish a Wyoming Dynasty Trust, which can last for up to 1,000 years, the trust is required to be governed by Wyoming law and the trustee must maintain a place of business in Wyoming, administer the trust in Wyoming, or be a resident of Wyoming. Rather than hiring a Wyoming Bank or Resident to serve as Trustee of the Wyoming Dynasty Trust, you may establish a WPTC to serve as Trustee.
  • Existing Family Trusts.  For families with existing Truststhat require a Fiduciary or Trustee to act as Trustee, a WPTC may qualify as a Corporate Fiduciary, which can serve as the Trustee.  The WPTC can also help to bring the administration of various family trusts under the administration of one WPTC.
  • Qualified Domestic Trust A WPTC may serve as the U.S. Trustee of a Qualified Domestic Trust established for the benefit of a surviving spouse that is not a United States Citizen.
  • Wyoming Asset Protection Trust.  Those seeking to take advantage of Wyoming's favorable tax and trust law must make a connection to WY. This can be done via a Wyoming Private Trust Company.
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Cloud Peak Law Group, P.C.

203 S Main St #3000 Sheridan, WY 82801


1901 Energy Court #319 Gillette, Wyoming 82718