Bank of Jackson Hole Trust & Wealth Partners provides confidential wealth management solutions with complete dedication to the needs of clients and their advisors.
Call on us to serve in any fiduciary capacity as trustee, executor, or conservator or as investment manager, or as agent for anyone acting in one of these roles. Our personalized fiduciary services are developed to meet client intentions, protect legacies and evolve to meet emerging needs.
We are your Trust & Wealth Partners. We understand, respect, and enhance your client relationships and your irreplaceable insights into their financial and estate planning needs.
Elevate Your Expectations of what a Professional Trustee and Fiduciary Can Do For Your Clients
Benefits of a Partner in the State of Wyoming
Trust, Tax and LLC Benefits in Wyoming
In recent years Wyoming adopted the Uniform Trust Code (UTC), but with hundreds of substantive modifications, to make Wyoming one of the top settlor friendly states in the U.S. to site trusts with US beneficiaries. The primary benefits of a Wyoming trust situs include:
• Asset Protection in self-settled trusts more »
• Grantor and beneficiary privacy more »
• No income tax on trust and other income more »
• No state inheritance tax more »
• Rule Against Perpetuities abolished allowing 1,000 year trusts and generation-skipping transfer tax planning more »
• Preferred situs due to deteriorating benefits of offshore trusts with US beneficiaries as a result of FATCA more »
• Directed Trustee authorized by statute more »
To learn more, please contact one of our
Trust & Investment Partners professionals.
Wyoming Law Review
Utah Bar Journal
Domestic Asset Protection Trusts: Comparison of Wyoming vs Utah
WYOMING BENEFITS IN MORE DETAIL
Asset protection in self-settled trusts:
Wyoming is the preferred situs state in the U.S. to achieve asset protection as a result of:
Wyoming allows self-settled spendthrift trusts by statute. A self-settled trust is typically an irrevocable trust in which the grantor is also a discretionary beneficiary.
Wyoming provides protection for discretionary and mandatory distributions from self-settled and third party trusts. Wyoming statutes provide a clear definition of what qualifies as a “discretionary distribution” and a “discretionary trust” providing certainty to which trusts and distributions the protections apply. Furthermore, it is clear by law that mandatory distributions may not be attached by creditors until they are received by the beneficiary. This prevents creditors from compelling a distribution of mandatory distributions. These protections apply even if the grantor-beneficiary is also a trustee.
No state gift or inheritance tax:
Wyoming does not impose a state tax on gifts or transfers at death by Wyoming domiciled persons.
Grantor and beneficiary privacy:
Wyoming does not require the recording of a trust or supervision of trust administration thereby keeping the identity of the trust, its grantors and beneficiaries out of the public record.
Preferred alternative to offshore trusts with US beneficiaries:
With the enactment of the Hiring Incentives to Restore Employment (HIRE) Act and the Foreign Account Tax Compliance Act (FATCA), the prior benefits of offshore sited trusts with U.S. beneficiaries has narrowed or arguably been negated.
No income tax on trust and other income:
Wyoming is an ultra-tax friendly state with no state income tax on trusts as well as no individual or corporate income tax, no tax on out of state retirement income…
Rule against perpetuities abolished and GSTT planning:
Wyoming has abolished the rule against perpetuities in favor of a 1,000 year (term of years) limit allowing for almost indefinite multi-generational planning.
Directed Trustee authorized by statute:
There may be circumstances where the separation of duties and responsibilities among multiple fiduciaries create investment and administration benefits to the trust and its beneficiaries.
Wealth Management Services
Trust & Investment Partners is a division of the Bank of Jackson Hole with its head office located in Jackson, Wyoming. In serving our clients we work closely and cooperatively with our clients’ other trusted advisors to help design, implement and manage a holistic financial and legacy plan for the benefit of our mutual clients. Often these plans include multigenerational planning that requires a long term professional fiduciary to provide independent and consistent service to the current and subsequent generations. The professionals of Trust & Investment Partners recognize and respect the responsibility placed in us by our clients and their advisors. We are committed to furthering the directives of our clients in the best interest of the clients and their legatees.
The bank has developed an experienced and caring team of professionals capable of managing the following investment, financial and estate management needs of our clients:
Fiduciary Appointments for most trust and estate administration including:
Revocable Living Trusts
Irrevocable Family Trusts
Charitable Remainder & Lead Trusts
Special Needs Trusts
Life Insurance Trusts
Investment Management for:
Individuals & Trusts
Endowments, Charities & Entities
Our Team / Contact Us
To discuss the particular needs of your clients, the benefits of working with Bank of Jackson Hole, Trust & Wealth Partners, or the benefits of a Wyoming trust situs, please contact us.
Trust & Wealth Partners
Main Office: 10 East Pearl Ave., Jackson, WY 83001
Mailing Address: P.O. Box 7002, Jackson, WY 83002
Phone Number: (307) 732-3071
Facsimile: (307) 734-9539
Other team members in the Jackson, Wyoming office directly serving clients include:
*Available via trustee situs in Wyoming.