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Why Wyoming
A State of Financial Opportunity
Wyoming: A State of Financial Opportunity
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.
Your hard-earned assets work for you best and longest in Wyoming. You don’t even have to live here to take advantage of what Wyoming has to offer. The Kiplinger Report ranked Wyoming as the Most Tax-Friendly State in the U.S.
Tax Advantages
Some benefits of locating your 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.
Bank of Jackson Hole Trust cannot provide tax advice. Please consult your tax advisor for guidance on how the information contained within may apply to your specific situation.