Private Trust Companies
Wyoming continues to lead the nation as the wealth friendliest state for many reasons, including forward thinking statutes that permit the use of completely unregulated private trust companies.
Although the use of private trust companies by ultra high net worth families is not new, families nationwide can now create their own private trust companies in Wyoming to to serve as trustee of some or all of the family's trusts and thereby maintain greater control of the family's own investments.
Most often formed as a Wyoming limited liability company, the private trust company, defined as a company that does not hold itself out to the public at large as offering trust company services, may be unregulated, thereby eliminating the requirements found in other jurisdictions for:
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Obtaining a charter from the banking commission
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Maintaining minimum capitalization
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Mandatory annual state audits
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Compliance with other regulatory and reporting requirements, including surety bonding.
