Wyoming Private Family Trust Company (PFTC)

The benefits of trusts, such as asset protection, tax advantages, and effective estate planning, aren't exclusive to ultra-high-net-worth families. If you're dissatisfied with the limitations of traditional trustees, consider a Private Family Trust Company (PFTC). Wyoming is one of a few states that permit PFTCs, allowing families to establish a customized entity that serves as trustee for their trusts. This empowers families with greater control over trust administration, policies, and procedures, ultimately fostering a more personalized approach to wealth management and legacy planning.

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Trusts offer privacy in several ways, shielding sensitive financial information and plans from public scrutiny. The level of privacy offered by a trust can vary depending on the specific type of trust and the laws of the jurisdiction where it's established. As a Wyoming licensed attorney, we can create for you a Private Trust Company in one of the few most privacy-friendly jurisdictions within the United States. 

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Wyoming creates a legal and regulatory environment that fosters the creation and success of PTCs. From tax benefits and flexible trust laws to a supportive professional community, Wyoming provides a compelling location for families seeking to establish a PTC and manage their wealth privately and efficiently. Here are a few reasons why Wyoming is considered a great location for establishing your Private Family Trust Company:

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1. Favorable Legal Landscape:

   • Wyoming boasts some of the most modern and flexible trust laws in the country, making it easier to establish and manage a PTC. The Wyoming Uniform Trust Code provides clear guidelines for PTC operation and ensures its legitimacy.

   • Wyoming has no state income tax, no trust income tax, and no capital gains tax on trust assets. This translates into significant tax savings for the family and the PTC itself.

   • Unlike some states, Wyoming does not require a PTC to register with the state as a trust company, simplifying the formation process and reducing regulatory burdens. The only regulatory requirement is that we inform the State that the company will not offer services to the general public.

   • The state is known for its business-friendly environment, with low filing fees and streamlined procedures for establishing and managing a PTC.

2. Flexibility and Control:

   • A PTC allows the family to maintain control over the management of their trust assets. Family members can participate on the PTC board or committees, ensuring their values and wishes are prioritized. It is however required that family members be a minority within the Board.

3. Privacy:

   • Unlike wills, which become part of the public record after probate, trust documents are typically not filed with the court. This means the specific beneficiaries, the value of the trust's assets, and the distribution instructions remain confidential. A PTC structure reinforces this by keeping trust details within the family, away from public scrutiny.

   • Beneficiaries don't have an automatic right to know the details of the trust until they become eligible to receive distributions as outlined in the trust document. This protects beneficiaries, particularly younger ones, from potential anxieties or undue expectations about future inheritances.

     • While trusts offer significant privacy benefits, it's important to note that complete secrecy is not always guaranteed. In some situations, a court order may compel the disclosure of trust information.

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Overall, trusts provide a valuable tool for maintaining privacy around your financial arrangements and estate plans. If you value discretion and control over how your assets are distributed, exploring trusts with your legal and financial advisors can be a worthwhile step.