Recent Wyoming law changes will affect individuals who are in the process of establishing a Wyoming trust company, or who are administering a Wyoming trust company. In its most recent session, the Wyoming legislature updated the law governing trust companies by passing House Bill 0030, which Governor Mark Gordon signed into law on February 14, 2019. The legislation is effective beginning on July 1, 2019. After that date, the new legislation governs the requirements and procedures for forming a new public or family trust company, the procedures for converting one type of trust company to another, and the ongoing operations and regulation of all existing public and family trust companies in the State of Wyoming.
Posted by Jessica Zhang, Associate Editor, Wealth Strategies Journal.