Asset Protection Trusts Wyoming Domestic Asset Protection Trusts (DAPTs) have become a well-known strategy to secure wealth. Over the past decades, Wyoming has become a leading asset protection situs due to its tax laws, strong legal protection, and privacy. The Wyoming DAPT can provide strong asset protection for high-net-worth individuals and families. However, Wyoming DAPTs […]
Matthew P. Grupp, Esq., LL.M
The Three Tiers of Wyoming Asset Protection Explained
Many people are worried about liability either through accidents or fraudulent lawsuits and are looking for a legal strategy to protect their assets. The best solution is highly relative to the situation of each individual. While there’s no one-size-fits-all solution, asset protection generally falls into three tiers. Each tier builds on the previous one, offering […]
The Benefits of a Wyoming Private Family Trust Company
Families typically have three options when they select a trustee to serve as fiduciary of their Wyoming trusts. There are two traditional options: an institutional trustee, such as a trust company, or an individual trustee, such as a trusted advisor. In either case, these traditional trustees may not meet all of a family’s unique goals […]
How to Form a Private Trust Company
Many ultra-high-net-worth families have heard of the benefits of establishing a private trust company to serve as trustee of their trusts. (We prefer “private family trust company” or “PFTC”) . However, they might not understand the nuanced best practices on forming a PFTC. This blog explores some of the legal and structural issues that families […]
What Does a Revocable Living Trust Do?
At a Glance What Do Revocable Living Trusts Do? A revocable living trust (RLT) allows an individual to avoid probate and plan for incapacity. However, by itself, an RLT does not provide asset protection or estate tax benefits. Instead, it often serves as the foundation for a broader estate plan that may include one or more irrevocable trusts designed for those […]