Wyoming is one of the most popular states for out-of-state residents to establish trusts because of its robust privacy laws, lack of state income tax, and “Asset Protection” statutes.
To open a Wyoming living trust while living elsewhere, you aren’t just filing a single form; you are creating a legal entity. Here is the documentation and the “nexus” requirements you’ll need to satisfy.
1. The Core Trust Documents
To establish the trust, you (the Settlor) must execute a formal Trust Agreement. In Wyoming, this document does not get filed with the state (keeping it private), but it must include:
- Trust Agreement: A written document clearly stating your intent to create the trust, naming the beneficiaries, and outlining the trustee’s powers.
- Certificate of Trust: A shorter, 2–3 page summary of the trust. This is the document you show to banks or title companies so they can verify the trust exists without seeing your private distribution details (who gets what).
- Schedule A: An inventory list of the assets initially used to “fund” the trust.
2. The “Wyoming Nexus” (Crucial for Non-Residents)
If you do not live in Wyoming, a “Living Trust” governed by Wyoming law generally requires a physical connection to the state to be legally valid and to enjoy Wyoming’s specific legal protections. You will likely need:
- Wyoming Qualified Trustee: If you are the primary trustee but live in another state, you must typically appoint a Co-Trustee or Administrative Trustee who is either a Wyoming resident or a licensed Wyoming trust company.
- Registered Agent: If you also set up a Wyoming LLC (common for holding out-of-state real estate within a trust), you must have a registered agent with a physical Wyoming address.
- Trust Situs Election: A specific clause in your trust document stating that the “Situs” (legal location) of the trust is Wyoming and that Wyoming law governs it.
3. Funding Documentation (Moving Assets)
The trust is just an empty “bucket” until you move things into it. Depending on what you own, you will need:
| Asset Type | Required Documentation |
|---|---|
| Real Estate | A Quitclaim Deed or Warranty Deed transferring the property from your name to “The [Name] Living Trust.” |
| Bank/Brokerage | The bank’s specific Trust Account Application and a copy of your Certificate of Trust. |
| Business Interests | An Assignment of Interest document (for LLCs or Corporations). |
| Personal Property | A Bill of Sale or General Assignment transferring jewelry, art, or furniture to the trust. |
4. Why Wyoming? (The Statutory Perks)
If you are doing this from out of state, you are likely looking for these specific Wyoming features:
- No Registration: Wyoming does not require you to register the trust with the Secretary of State (unlike some other states).
- Privacy: Trust documents are not public records.
- Asset Protection: If you choose to make the trust “Irrevocable” (a Wyoming Asset Protection Trust), Wyoming law protects the assets from most creditors after a 2-year “look-back” period.
⚠️ A Note on Your Home State
Even if you set up a Wyoming trust, your home state (e.g., California or New York) may still try to tax the income or apply its own laws to assets physically located there (like your primary home).
When setting up a Wyoming trust from out of state, you typically look for Independent Trust Companies or Chartered Trust Banks. These firms are “licensed and regulated” by the Wyoming Division of Banking and specialize in providing the “Wyoming Nexus” (physical presence) you need to make the trust legally valid.
As of early 2026, here are several highly-rated and established Wyoming trust companies that cater specifically to non-residents:
1. Banking-Based Trust Companies
These are often preferred if you want a one-stop-shop for both trustee services and holding the trust’s liquid assets.
- Bank of Jackson Hole Trust: One of the most prominent in the state. They specialize in “Directed Trusts,” where you can keep your own financial advisor while they handle the Wyoming administrative duties.
- First Northern Trust (First Northern Bank of Wyoming): Based in Buffalo, WY. They have been providing trust and estate services since 1975 and are well-versed in Asset Protection and Dynasty Trusts.
- First Western Trust (Jackson Hole): Focuses on high-net-worth individuals and provides a full spectrum of wealth management, private banking, and fiduciary services specifically for out-of-state clients.
2. Independent & Boutique Trust Companies
These firms often offer more flexible or specialized services, especially for families who want to maintain more control or use complex “Asset Protection” structures.
- Teton Trust Company: A state-chartered company based in Jackson. They specialize in multi-generational family trusts and help non-residents with “Private Trust Companies” (PTCs) if you want to run your own trustee entity.
- Sepio Trust Company: Known for relationship-focused management, they provide independent trustee services for complex, multi-generational family needs from their Jackson office.
- Jackson Hole Trust Company: A long-standing independent firm that provides a full range of services for domestic and international families looking for privacy and confidentiality.
- Trail Ridge Trust Company: Specialized in “Directed Trusts” and “Situs” services, allowing you to use Wyoming’s laws while keeping your existing out-of-state investment team.
3. Law Firms That Provide Trust Support
While they are not “Trust Companies” in the banking sense, these firms are essential for drafting the documentation and often provide the “Qualified Trustee” services through their partners:
- Hathaway & Kunz (Cheyenne): One of the state’s oldest firms; they handle the heavy lifting for Asset Protection Trust (DAPT) planning.
- Holland & Hart (Jackson): A major regional firm that helps ultra-high-net-worth individuals structure sophisticated Private Trust Companies.
- Grupp Law Firm: Specialized in “Revocable Living Trust” formation and advanced estate tax planning for out-of-state residents.
Summary of What to Ask Them
When you call these firms, ask these three specific questions to ensure they fit your needs:
- “Do you provide ‘Administrative Trustee’ services for non-residents?” (This gives you the legal Wyoming nexus).
- “Do you allow ‘Directed Trusts’?” (This lets you keep your current financial advisor/brokerage).
- “What is your annual minimum fee for out-of-state residents?” (Annual fees can range from $2,500 to $10,000+ depending on the complexity).
Finding the right Wyoming trust company for an out-of-state resident depends on whether you want a bank to manage your money or an independent company to simply provide the legal “Situs” (address) while you keep your own advisor.
As of early 2026, here are the top companies with their fee structures and contact information.
1. Top Wyoming Trust Companies
Bank of Jackson Hole Trust
- Best For: Those who want a reputable bank charter with “Directed Trust” options (allowing your own advisor to manage investments).
- Fees: Typically use a tiered asset-based fee. While they don’t publish a flat “out-of-state resident” fee publicly, their standard trust administration often starts with a minimum annual fee (often around $5,000–$7,500 depending on complexity).
- Contact: 307-732-3050 | bankofjacksonholetrust.com
Jackson Hole Trust Company (Independent)
- Best For: High privacy and complex asset protection. They are a family-owned independent firm.
- Fees: They offer Directed Trustee services, which are usually more affordable than full discretionary management. Fees are generally customized based on the assets (real estate vs. liquid), but expect an annual minimum in the $3,000–$5,000 range.
- Contact: Aaron Sones (New Business) at 307-349-6883 | jacksonholetrust.com
First Northern Trust (First Northern Bank of Wyoming)
- Best For: Stability and competitive, transparent pricing.
- Fees: They use a clear tiered schedule. For assets up to $1.5M, the fee is roughly 0.13% of total assets. For very large trusts (over $15M), the rate drops significantly.
- Contact: 307-684-2211 (Buffalo, WY office) | 1stnorthern.bank
Teton Trust Company
- Best For: Multi-generational “Dynasty Trusts” and non-residents who need a physical nexus for an international or out-of-state family.
- Fees: Known for boutique, high-touch service. Minimums are typically higher, often catering to accounts starting at $5M – $10M+ in assets.
- Contact: 307-739-4343 | tetontrustcompany.com
2. Estimated Cost Breakdown (Annual)
If you are opening a “standard” Wyoming Living Trust as an out-of-state resident, your annual “maintenance” budget will look roughly like this:
| Service | Estimated Annual Cost | Notes |
|---|---|---|
| Administrative Trustee | $3,000 – $7,500 | Required for Wyoming legal “Nexus.” |
| Registered Agent | $125 – $300 | Only if you have an LLC inside the trust. |
| State Filing Fee | $60 | Wyoming Annual Report fee. |
| Tax Prep (1041) | $500 – $1,500 | If the trust earns income and is irrevocable. |
3. Immediate Next Steps
- Request a “Fee Schedule”: Contact one of the firms above and specifically ask for their “Directed Trustee Fee Schedule for Non-Residents.” This is almost always cheaper than their “Discretionary” schedule.
- Verify Asset Type: If you are putting real estate (like a house in another state) into the Wyoming trust, ask if they require that property to be held in a Wyoming LLC first. Most trust companies prefer this for liability reasons.
Would you like me to draft a list of specific questions you should email to these trust officers to compare their services?