Wyoming Living Trust
The Wyoming rules that shape the document: the Article 5 asset-protection trust that does not cover this revocable trust, the beneficiary-free funding deed under Section 34-2-122, and the 1,000-year term for non-real-property assets.
Find out where you stand in Wyoming
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Introduction
A living trust lets you transfer assets to a trustee during your lifetime so they pass to your beneficiaries without probate, but only for what you actually retitle into it; anything still in your own name still goes through Wyoming probate regardless of what the trust says. Wyoming is famous for aggressive asset-protection and dynasty-trust law, but almost none of that fame attaches automatically to this ordinary revocable trust: the domestic asset-protection regime in W.S. Sections 4-10-510 to 4-10-523 shields only a separate, deliberately irrevocable qualified spendthrift trust, and W.S. Section 4-10-506(a)(i) exposes this trust's assets to your creditors exactly like property you own outright while you are alive. What Wyoming does give an ordinary living trust: no state estate tax, inheritance tax, or real estate transfer tax on funding it (W.S. Section 39-19-103(b), and no transfer-tax statute anywhere in Titles 34 or 39), a term of up to 1,000 years for non-real-property assets (W.S. Section 34-1-139(b)), and a funding deed that, unlike some states, need not name your beneficiaries (W.S. Section 34-2-122).
Key Things to Know
- 1
Wyoming's asset-protection fame does not cover this trust. W.S. Sections 4-10-510 to 4-10-523 let you create a separate, irrevocable 'qualified spendthrift trust' that shields assets from your own creditors, but Section 4-10-506(a)(i) subjects this ordinary revocable living trust to your creditors during your life exactly as if you owned the property outright.
- 2
Wyoming has no state estate tax, no inheritance tax, and no real estate transfer or documentary tax of any kind. The estate-tax chapter's credit-based formula, tied to a federal credit eliminated after 2004-2005, computes to zero regardless of estate size (W.S. Section 39-19-103(b)).
- 3
Non-real-property assets, such as cash, securities, or LLC interests, held in this trust may continue for up to 1,000 years after the trust's creation, as long as the trust is Wyoming-governed and the trustee has a Wyoming connection (W.S. Section 34-1-139(b)-(e)). Real property in the trust is still limited by the common-law rule against perpetuities (Section 34-1-139(a)).
- 4
No notary or witness is required to create the trust itself: W.S. Section 4-10-403(a) lists only capacity, intent, a definite beneficiary, and trustee duties. The deed that funds real property into the trust is different; it must be acknowledged before a notarial officer (Section 34-1-113), and it must name the trustee, the trust's name, and the trust's date, but not the beneficiaries (Section 34-2-122).
- 5
Wyoming's elective share reaches only the probate estate, with no augmented-estate concept. W.S. Section 2-5-101(a) measures a surviving spouse's one-half or one-quarter share against 'the property which is subject to disposition under the will,' so assets you fund into this trust during life can fall outside your spouse's statutory share.
- 6
Whether the W.S. Section 1-20-101 homestead exemption, a statutory $100,000 (a fixed statutory figure) (doubled for co-owners occupying the residence under Section 1-20-102(b)), survives deeding your residence into this trust is unresolved; no Wyoming statute or reported decision addresses trust titling, so confirm with a Wyoming attorney before relying on it.
- 7
If you and your spouse hold property as tenants by the entirety under W.S. Section 34-1-140, that property's creditor immunity continues after you fund it into this trust, so long as you both remain married and living, it stays held for your benefit, and the trust instrument or deed expressly says the immunity continues (Section 4-10-402(c)-(d)).
Key decisions before you file
Before you file a Living Trust in Wyoming, a few decisions shape the document: which option to choose and what each one means. The Living Trust guide walks through them.
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Wyoming Requirements for Living Trust
Wyoming Revocable Trust Has No Self-Settled Creditor Protection
W.S. Section 4-10-506(a)(i) subjects an ordinary revocable living trust's assets to the settlor's creditors during life, the same as property owned outright. Wyoming's domestic asset-protection trust regime (Sections 4-10-510 to 4-10-523) shields only a separate, deliberately irrevocable qualified spendthrift trust, not this revocable trust.
Wyoming No Transfer, Estate, or Inheritance Tax
Wyoming imposes no real estate transfer or documentary tax, no inheritance tax, and no state estate tax currently in effect; the estate-tax chapter's credit-based formula computes to zero (W.S. Section 39-19-103(b)).
Wyoming Funding Deed Need Not Name Beneficiaries
A deed conveying Wyoming real property to the trustee must be acknowledged before a notarial officer (W.S. Section 34-1-113) and must state the trustee's name, the trust's name, and the trust's date, or reference a recorded document containing that information (Section 34-2-122); unlike some states, it need not name the beneficiaries.
Wyoming 1,000-Year Term for Non-Real-Property Assets
Non-real-property trust assets may be held for up to 1,000 years after the trust's creation, as long as the trust is Wyoming-governed and the trustee has a Wyoming connection (W.S. Section 34-1-139(b)-(e)). Real property in the trust remains subject to the common-law rule against perpetuities (Section 34-1-139(a)).
Wyoming Elective Share Reaches Only the Probate Estate
W.S. Section 2-5-101(a) measures a surviving spouse's statutory share against the probate estate only; Wyoming has no augmented-estate concept, so assets funded into a revocable living trust during life can fall outside the spouse's elective-share base.
Wyoming Homestead in Trust Is Unresolved
W.S. Section 1-20-101 exempts a homestead up to $100,000, a fixed statutory figure (doubled for co-owners occupying the residence under Section 1-20-102(b)), but no Wyoming statute or case law confirms whether the exemption survives deeding the residence into a revocable trust. Confirm with a Wyoming attorney before relying on it.
Wyoming Tenancy by the Entirety Immunity Survives Funding
Property held as tenants by the entirety under W.S. Section 34-1-140 keeps its creditor immunity after funding into this trust, so long as both spouses remain married and living, the property stays held for their benefit, and the trust instrument expressly states the immunity continues (Section 4-10-402(c)-(d)).