A Wyoming Statutory Trust (WST) is a distinct legal entity (unlike a private Living Trust) and is governed by its Governing Instrument (often called an Operating Agreement).
Under Wyoming Statute § 17-23-114, the trust must have a Governing Instrument that outlines its operations. Below is a simplified draft for the Gonen Statutory Trust.
GOVERNING INSTRUMENT (OPERATING AGREEMENT)
OF THE GONEN STATUTORY TRUST
This Governing Instrument (the “Agreement”) is entered into effective as of this ____ day of ________, 2026, by and between the undersigned Trustee(s) and Beneficial Owner(s).
ARTICLE I: FORMATION AND NAME
1.1 Formation. The Gonen Statutory Trust (the “Trust”) is formed as a Wyoming Statutory Trust pursuant to the Wyoming Statutory Trust Act (W.S. § 17-23-101 et seq.).
1.2 Name. The name of the Trust shall be: Gonen Statutory Trust.
1.3 Principal Place of Business. The principal office shall be located at [Your Address] or as the Trustees may determine.
ARTICLE II: PURPOSE
2.1 Purpose. The Trust is organized for the purpose of holding, managing, and investing assets, including but not limited to real property, securities, and membership interests in business entities (such as LLCs), for the benefit of the Beneficial Owners.
ARTICLE III: TRUSTEES
3.1 Management. The business and affairs of the Trust shall be managed by the Trustee(s).
3.2 Initial Trustee. [Your Name] shall serve as the Initial Trustee.
3.3 Powers. The Trustee shall have all powers granted by Wyoming law, including the power to open bank accounts, execute contracts, and manage LLCs owned by the Trust.
3.4 Liability. Pursuant to W.S. § 17-23-115, no Trustee shall be personally liable for the debts, liabilities, or obligations of the Trust.
ARTICLE IV: BENEFICIAL OWNERS
4.1 Beneficial Interests. The Beneficial Owners hold an undivided beneficial interest in the Trust property.
4.2 Initial Beneficial Owner. [Your Name] shall hold 100% of the beneficial interest.
4.3 Limited Liability. Beneficial Owners shall be entitled to the same limitation of personal liability as is extended to stockholders of a Wyoming corporation.
ARTICLE V: TRANSFER OF INTERESTS
5.1 Restrictions. A Beneficial Owner may transfer their interest in the Trust to a Living Trust or other entity, provided such transfer is recorded in the Trust’s internal records.
ARTICLE VI: DISSOLUTION
6.1 Termination. The Trust shall have perpetual existence unless dissolved by the unanimous consent of the Beneficial Owners or as required by law.
ARTICLE VII: AMENDMENTS
7.1 Amendments. This Agreement may be amended at any time by a written instrument signed by the Trustee and a majority of the Beneficial Owners.
SIGNATURES
[Your Name], Trustee
[Your Name], Beneficial Owner
Important Next Steps for a Statutory Trust:
- File the Certificate of Trust: Unlike a living trust, a Statutory Trust must be filed with the Wyoming Secretary of State. The filing fee is typically $100.
- Registered Agent: You must list your Wyoming Registered Agent on the filing to maintain the trust’s legal standing.
- The LLC Link: Since you mentioned an LLC, ensure your LLC’s Operating Agreement now lists “Gonen Statutory Trust” as its member.
Would you like me to help you draft the “Certificate of Trust” form that you actually have to mail into the Wyoming Secretary of State to make this official?