To legally “fund” your series, you need a document that records the transfer of ownership from you (or another entity) to the specific series. This is vital for maintaining the “corporate veil” between your assets.
This document is typically called a Contribution Agreement or an Asset Transfer Memorandum.
ASSET TRANSFER MEMORANDUM
OF [NAME OF MASTER TRUST]
DATE: ________________, 20
TO: Books and Records of [Full Name of Master Trust] FROM: ________________________________ (The “Transferor”)
RE: Contribution of Assets to [Name of Series]
1. Description of Assets
The Transferor hereby transfers, assigns, and contributes all right, title, and interest in the following described property (the “Assets”) to the [Full Name of Master Trust], specifically for the benefit and account of [Name of Series]:
- Cash: Sum of $____________ to be deposited into the Series bank account.
- Real Property: [Address or Legal Description]
- Personal Property: [List specific items, e.g., Equipment, Vehicles (VIN #), etc.]
- Intangible Property: [e.g., Copyrights, Membership Interests in LLCs]
2. Purpose of Transfer
This transfer is made as a capital contribution to the capital of the designated Series. In exchange, the Transferor shall receive [Description of Consideration, e.g., “a beneficial interest in the Series” or “no consideration, as a gift”].
3. Representations
The Transferor represents that:
- They have full legal authority to transfer the Assets.
- The Assets are free and clear of all liens and encumbrances (unless listed here: ________________).
- This transfer is not intended to defraud, hinder, or delay any current creditors.
4. Acceptance by Trustee
By signing below, the Trustee(s) of the [Full Name of Master Trust] accept the Assets on behalf of [Name of Series] and agree to hold, manage, and administer them in accordance with the Master Trust Agreement and Wyoming law.
TRANSFEROR: ____________________________________
(Signature)
ACCEPTED BY TRUSTEE: ____________________________________
[Name of Trustee], Trustee of [Name of Series]
Critical Next Steps for Titling:
A memo is great for your internal records, but for many assets, you must also update external ownership records:
- Real Estate: You must file a Quitclaim Deed or Warranty Deed with the County Recorder. The owner should be listed as: “[Name of Master Trust], [Name of Series]”.
- Bank Accounts: Take your Certificate of Trust and Designation of Series to the bank. The account name must match the series exactly.
- Vehicles: You will need to sign over the title at the DMV and pay any applicable transfer fees to have a new title issued in the series’ name.
- Affidavit of Solvency: Under Wyoming law (W.S. § 4-10-512), if this is part of an asset protection strategy, you should keep a signed and notarized statement in your records swearing that this transfer does not make you insolvent (broke).
Would you like me to help you draft that “Affidavit of Solvency” to ensure your asset protection stands up in court?