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Delaware vs Wyoming: trust jurisdictions side by side
Delaware and Wyoming are two of the 40 places we cover. Both are in the Americas and Caribbean and open for new trusts with us. The table sets out the facts we hold for each place side by side, with the source and date of every fact.
The table
Facts side by side
Shaded cells differ between the two places.
| Fact |  Delaware |  Wyoming |
|---|---|---|
| Governing law | Qualified Dispositions in Trust Act, 12 Del. C. 3570 to 3576 | Qualified spendthrift trusts: W.S. 4-10-510 to 4-10-523 |
| Perpetuity period | No limit on personal property in trust; real property after 110 years | Non-real property can stay in trust for up to 1,000 years |
| Protector | The deed can name advisers and protectors with defined powers | The deed can name a trust protector and a trust advisor |
| Asset protection rule | A creditor must prove its case by clear and convincing evidence | Creditor claims must follow the Uniform Fraudulent Transfer Act |
| Foreign law rules | Forced heirship, legitime and elective share claims are not exception claims | Forced heirship and legitime claims cannot be raised against the trust |
| Reserved settlor powers | The transferor may keep a distribution veto and a power to remove trustees | The settlor may keep a distribution veto and act as investment advisor |
| Trustee requirement | Qualified trustee: a Delaware-resident individual or a supervised entity | Qualified trustee: a Wyoming-resident individual or an authorised entity |
| Reporting to authorities | A nonresident non-citizen's estate files Form 706-NA above a US-asset threshold | A nonresident non-citizen's estate files Form 706-NA above a US-asset threshold |
This is guidance, not legal or tax advice. Every fact has a source, listed under Sources with its date.
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Sources
Read on :
- Delaware Code: Title 12, chapter 35, subchapter VI, Qualified Dispositions in Trust. Used for governing law, asset protection rule, foreign law rules, reserved settlor powers, trustee requirement.
- Wyoming Statutes: Title 4, chapter 10, Uniform Trust Code. Used for governing law, protector, asset protection rule, foreign law rules, reserved settlor powers, trustee requirement.
- Title 25, chapter 5, Rule Against Perpetuities. Used for perpetuity period.
- Title 34, Property, Conveyances and Security Transactions. Used for perpetuity period.
- Title 12, chapter 33, Administrative Provisions. Used for protector.
- Internal Revenue Service: Some nonresidents with U.S. assets must file estate tax returns. Used for reporting to authorities.
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