Trust Administration Services
How We Can Help
Understanding how to manage and safeguard your clients’ trust property, whether it’s real estate, securities, life insurance, or any other type of asset, can be challenging and intimidating. Our team can help you navigate the trust administration process and provide the flexibility needed while adhering to fiduciary standards for your clients.
We work closely with financial advisors and attorneys to achieve your clients’ goals by:
- Assigning a dedicated trust officer to coordinate all trust-related activities
- Conducting sales of assets to generate distribution proceeds
- Holding assets for safekeeping & promptly collecting income and principal for credit
- Issuing statements that reflect distributions, transactions, asset activity, & market values
- Managing trust assets in a tax-sensitive manner
- Upholding standards of fairness, accountability & professionalism
Why Choose a Directed Trust?
Directed trusts offer professionals greater control and flexibility over trust management and asset distribution by dividing responsibilities. Trust advisors can handle asset management and investment strategy while our team concentrates on ensuring compliance with laws and regulations in trust administration. This allows both teams to focus on what we each do best.
Protecting Your Clients’ Assets
When your clients need help shielding their assets from creditors or judgments, we guide them through the asset-protection trust process. Wyoming is one of the few states that allow individuals to protect their assets while continuing to benefit from them. As a legal beneficiary under a domestic asset protection trust (DAPT) in Wyoming, your clients can safeguard their assets and enjoy state income tax savings.
At Wyoming Trust Company, we also offer a “cowboy cocktail,” pairing your clients’ trust with a limited liability company for extra protection.
Special Assets
Wyoming Trust Company provides professional management of all asset types, including:
- Closely held LLCs, corporations, & partnerships
- Residential real estate
- Commercial real estate
- Vacant land, ranch & farm assets
- Oil, gas, & mineral property
- Loan & note assets
- Art & collectibles
- Marketable securities
- Copyrights & royalties
Different Types of Trustees
Wyoming Trust Company offers a unique approach to trust administration in that it works with advisors and lawyers to maintain trust assets. See the advantages and disadvantages of each category of trustee below.
Children
Inexpensive Trustee fees
Time Consuming for Children
Coordination of Administrative/Legal Requirements
Limits Asset Protection benefits
Potential for inclusion in Grantor’s estate
Potential for family conflict
Must comply with complex trust administration laws
Friend
Understands the Grantor’s intent
Minimal Trustee fees
Time Consuming for Friend
Coordination of Administrative/Legal Requirements
Potential for inclusion in Grantor’s estate
Friend may resign or be unable to administer which could create problems
Must comply with complex trust administration laws
Exposure to liability and lawsuits by beneficiaries for breach of fiduciary duties
Accountant/Lawyer
Fees may be less than a professional trustee
Likely to understand the complexity
Professional Malpractice Insurance
May not be a priority for the lawyer/attorney
Potential for inclusion in Grantor’s estate if IRS can show Grantor controlled the Trustee’s decisions
Fees often related to the amount of time spent on administration
Lawyer may resign or be unable to administer in the future
Often the professional does not entirely understand the Trustee’s duties
Insurance may not apply to Trustee duties
Wyoming
Trust Company
Chartered & Regulated
Professionally trained and well-educated staff
Bonded/Insured
Provides longevity to Trustee designation
Assets excluded from estate and shielded from federal and state estate tax
Flexibility on Assets/Investments***
Ability to comply with complex trust administrative laws
- Correctly reflect administration of trust
- Sends reports and letters to beneficiaries
- Trust accounting
- Maximize tax deductions and exemption
- Protect against unforeseen consequences when administering trust
- Comply with deadlines
- Keep current on gifting and tax laws
***WYOMING TRUST COMPANY offers a unique approach to trust administration in that it works with your financial advisor team to maintain the trust assets.
Loss of Control
Trustee Fees
Corporate Trustee
(e.g. bank)
Chartered & Regulated
Professional trained staff
Bonded/Insured
Assets excluded from estate and shielded from federal and state estate tax
Provides longevity to Trustee designation
Ability to comply with complex trust administrative laws
Least amount of control
Lack of flexibility with Assets/Investments
Highest Trustee fees, which are typically in addition to transaction and investment fees
Children
Inexpensive Trustee fees
Time Consuming for Children
Coordination of Administrative/Legal Requirements
Limits Asset Protection benefits
Potential for inclusion in Grantor’s estate
Potential for family conflict
Must comply with complex trust administration laws
Friend
Understands the Grantor’s intent
Minimal Trustee fees
Time Consuming for Friend
Coordination of Administrative/Legal Requirements
Potential for inclusion in Grantor’s estate
Friend may resign or be unable to administer which could create problems
Must comply with complex trust administration laws
Exposure to liability and lawsuits by beneficiaries for breach of fiduciary duties
Accountant/Lawyer
Fees may be less than a professional trustee
Likely to understand the complexity
Professional Malpractice Insurance
May not be a priority for the lawyer/attorney
Potential for inclusion in Grantor’s estate if IRS can show Grantor controlled the Trustee’s decisions
Fees often related to the amount of time spent on administration
Lawyer may resign or be unable to administer in the future
Often the professional does not entirely understand the Trustee’s duties
Insurance may not apply to Trustee duties
Wyoming
Trust Company
Chartered & Regulated
Professionally trained and well-educated staff
Bonded/Insured
Provides longevity to Trustee designation
Assets excluded from estate and shielded from federal and state estate tax
Flexibility on Assets/Investments***
Ability to comply with complex trust administrative laws
- Correctly reflect administration of trust
- Sends reports and letters to beneficiaries
- Trust accounting
- Maximize tax deductions and exemption
- Protect against unforeseen consequences when administering trust
- Comply with deadlines
- Keep current on gifting and tax laws
***WYOMING TRUST COMPANY offers a unique approach to trust administration in that it works with your financial advisor team to maintain the trust assets.
Loss of Control
Trustee Fees
Corporate Trustee
(e.g. bank)
Chartered & Regulated
Professional trained staff
Bonded/Insured
Assets excluded from estate and shielded from federal and state estate tax
Provides longevity to Trustee designation
Ability to comply with complex trust administrative laws
Least amount of control
Lack of flexibility with Assets/Investments
Highest Trustee fees, which are typically in addition to transaction and investment fees
Work With a Team Who Cares
Are you a professional looking to expand your trust services? Our team can help!
