PRIVATE TRUST COMPANY
Wyoming is the best state to establish a PTC because of our focus on ease of administration and formation. No required capital contributions combined with avoiding oversight by the State Division of Banking help us lead the nation. Other states have minimum contribution requirements of from $200,000 to $500,000 on formation and requiring compliance with operating regulations. Wyoming is thus extremely attractive.
Wyoming also provides particular advantages for investment advisors. These include zero state taxes on trust assets, private trust companies, zero regulation of investment advisors, and settlor-friendly trust laws. Also provided are asset protection benefits for self-settled spendthrift trusts and single member LLCs. These advantages reflect a conscious effort on the Wyoming legislature’s part to make Wyoming a pre-eminent asset protection destination worldwide.
Spendthrift trusts prevent creditors from pursuing assets inside the trust. In desirable jurisdictions, e.g. Wyoming, this protection extends to self- settled trusts. Regardless of whether your trust contains a spendthrift clause, Wyoming allows discretionary distributions and protects them until a distribution is actually made. Wyoming law is clear in this respect and creditors may not attach such distributions.
Wyoming recently amended its laws to clarify that a charging order is the sole remedy for creditors pursuing LLC assets, regardless of whether there’s only one member. Creditors are not allowed lien or foreclosure rights when pursuing Wyoming Limited Liability Companies. Unlike other states, a creditor may only satisfy judgements via an LLC through obtaining the right to distributions.
This remedy is unattractive since an LLC is under no obligation to make distributions, thus delaying (indefinitely) any settlement. Further, Wyoming’s does not allow foreclosing LLC interests while reducing the risk an LLC’s veil may be pierced. This further reduces the risk that claims against the private trust company may be settled using the personal assets of a membebr. PTCss may be used in conjunction with other tools to enhance asset protection.
No Capital Contributions
Other States Require Hundreds of Thousands
Investment Advisor Friendly
No Investment Advisor Regulations
Only Share What’s Needed
Save More Than You Pay
Manage Everything Directly
Only You Know
Discover Why Increasing Numbers Take This Path
- Trustee For “Family” of Trusts
- No Regulatory Oversight
- Allows Unmediated Control
- Reduce Costs
- Enhance Privacy
- Control Assets Directly
- Separate Investment Activities
- Financially Tutor Younger Family
- Division of Banking Approval
- Secretary of State Approval
- There Must Be A Member
- Family Office
- We Assist With All The Above