Trusts are a legal creation which separates the ownership from the control of assets. Assets are owned by the trust and not any natural person. Many states provide benefits previously reserved for offshore jurisdictions. It is, therefore, important to understand how they work, their advantages and whether these advantages apply to you.
There are no residency requirements, nor do you have to visit Wyoming.
Wyoming allows anonymous ownership. Keeps you and your family's affairs private.
Insuring the uninsurable - bankruptcy, taxes, lawsuits, bad choices, bad luck and more.
Think of a trust as a box. You place what you want into the box and put a lid on it. The lid may only be opened according to your instructions. A trust has beneficiaries which benefit from the trust assets, and a trustee which controls the trust. This separation of ownership from control provides protection from creditors. They cannot take what you don’t own.
Anyone. Trusts have existed for hundreds of years, but this has not bred familiarity. They are often thought of as expensive and complex. This is partly cultivated by trust attorneys to justify their exorbitant rates. We have a law firm which comes highly recommended for these situations.
Creditors can only go after what you own. Wyoming offers a wonderful opportunity for people to move assets out of the reach of creditors and still have access to those assets. Protection involves layering trusts and LLCs. Careful planning and implementation are prerequisite to any successful Asset Protection Plan.