Most tax-friendly state in the US Wyoming residents pay no state income or capital gains tax, no gift or estate tax, no tax on out-of-state retirement income, no tax on mineral ownership, no intangibles tax, and low insurance premium tax. This benefit may be extended to non-residents who transfer assets to a Wyoming irrevocable trust.
Healthiest fiscal position in the US Wyoming also receives high marks for its fiscal management and substantial financial reserves. Wyoming's legislature is constitutionally required to pass a balanced budget and has accumulated a $22 billion sovereign fund.
Strong privacy and creditor protection laws Wyoming trust details are not part of the public record. Grantors, beneficiaries and details regarding trust assets remain private. In addition, trust records and court documents are automatically sealed in any judicial proceeding involving a trust. Wyoming is also one of the few states that allow the creation of a domestic asset protection trust.
Only U.S. state with a comprehensive legal framework to address digital assets Wyoming's Legislature has passed 20 laws clarifying the legal status of digital assets as property within the Uniform Commercial Code. Furthermore, Wyoming has established a Chancery Court to provide streamlined resolution of commercial and trust cases. This makes Wyoming the preeminent jurisdiction in which to custody digital assets including cryptocurrency and digital securities.
Modern trust laws and innovative trust structures Wyoming's Legislature regularly updates and refines the state’s trust laws ensuring Wyoming remains at the forefront of jurisdictions for migrating or settling a trust. Wyoming statutes allow for dynasty trusts that last up to 1,000 years as well as directed trusts in which advisors may be named to direct investment or distribution decisions. Wyoming’s decanting statutes facilitate trust migration and Wyoming trusts may be modified using a non-judicial settlement agreement.
Unregulated private trust companies Wyoming is one of a limited number of states that authorize both regulated and unregulated private trust companies. In addition, Wyoming requires no capital contribution to form an unregulated private trust company, making it an attractive jurisdiction for clients who prefer to designate a private family trust company to serve as trustee.
Two Ocean Trust is a Wyoming chartered trust company based in Jackson Hole. We provide investment and trust services to high net worth individuals, family offices, and investment advisors who seek the benefits of Wyoming's favorable trust laws, digital asset laws, privacy, and low tax rates.