On Mar. 5, WY LEG enacted bill re qualified trustee, perpetuities, taxes
WY LEG enacted SF 97 re trust code revisions, updated definitions, notice methods, provisions for tax payments on certain trusts, addressed rule against perpetuities.
The bill amended State of Wyoming's statutes, WY LEG 4-10, the Uniform trust code.
Bill Provisions
Updated WY LEG statutes to amend and expand the definition of qualified trustee.
Provided that in any action under code notice only be provided to defined parties.
Change prohibited application of rule against perpetuities against noncharitable trusts.
Permitted trustee to pay certain taxes at its discretion re certain taxes of trustee.
Legislative History
On Jan. 22, 2025, bill introduced in Senate; on Feb. 3, 2025, bill passed the Senate.
On Feb. 18, 2025, bill introduced in House; on Mar. 3, 2025, bill passed the House.
On Mar. 5, 2025, the governor signed the bill, assigning Chapter number 115.
Effectiveness
The act is effective Jul. 1, 2025, and applies to all trusts created after that date.
Regulators
WY LEG
Entity Types
CNSM; Fiduciary
Reference
Ch. 115, SEA No. 0066, Bill SF0097, 3/5/2025; Citation: WY LEG 4-10;
