Private Trust Company

There’s a lot of hype these days about starting your own Wyoming asset protection trust and private trust company, but the truth is it’s a lot tougher than people think. Before you become another disillusioned, burnt-out business owner, there’s a few things you need to consider about the Wyoming trust company before you decide if it’s really the right move for you.


First, why do you want to start a Wyoming Trust Company? What cause do you want to support? Do you really have the passion and commitment it takes to follow through, and do you have the time and resources available to meet the need of that cause? These questions will form the basis of your company.

Next, do some research to find out if there are other Wyoming trust organizations who are already addressing the same problem you’re focusing on. If so, it would probably be more beneficial to you to volunteer with that organization and focus your business plans on something else. If you really want to help your chosen cause, working with an already established organization will help far more than starting a rival business.

You also need to concentrate on where your funding will come from to turn your dream into reality. Will you concentrate more on public funding and applying for federal grants, or are you looking more towards the private sector with foundations, privately-owned businesses and individuals? No matter which sources you pursue, you need to acclimate yourself to asking for donations. If you’re uncomfortable with the process, you’re probably in the wrong business.

You’ll also quickly realize you can’t work alone, so you’ll have to hire one or two people to help you with your endeavor, who have just as much passion as you do about your cause and the skills to help establish a startup business. This way if you unexpectedly need to take time off while your business is being formed, your company won’t collapse within days.

Don’t forget that the majority of a new business owner’s monetary sources will originally come from their own pocket. You’ll need a fair amount of money to purchase equipment, space and other necessities that any new business requires. Make sure you don’t put your own financial security at risk, or you may quickly find yourself on the receiving end of the same charity you tried to set up.

It’s a noble thing to try and establish a Wyoming Trust Company, but that’s exactly why you need to be even more careful when embarking on your endeavor than with companies in other industries. You need a solid business plan and a good idea of where you’re headed before you even decide on a name for your group. Do your homework and make sure there’s a real need for the organization you want to form, and make sure you truly have the passion and energy to carry through on your plans.

Wyoming Asset Protection Trust

Probate liquidators refer to people that buy inheritance assets from probated estates. Probate is required when a person dies without establishing an irrevocable trust. The probate process can last a few months or extend for years and oftentimes results in financial hardship to decedent estates.

Estate administrators can sell inheritance property to probate liquidators to relieve financial burdens. Funds can be used to pay off outstanding debts and provide cash to beneficiaries designated within the decedent’s last will and testament.

Liquidating probate assets can be particularly beneficial when mortgaged real estate is involved. Estate executors are responsible for all facets of maintaining real estate throughout the probate process. If a mortgage note is attached, the estate must continue making home loan payments or risk having the property fall into foreclosure.

The estate is also responsible for paying homeowner’s insurance, homeowner’s association fees, property taxes, and maintenance expenses including lawn care and pool service. If the estate does not have the financial means to cover expenses they can attempt to sell the property on their own or through a realtor.

In today’s recessed housing market it can take months to locate a qualified buyer. Estate administrators act as fiduciary for the estate and are required to make responsible financial decisions. Although probate liquidators purchase inheritance assets below market value, they buy houses with cash in order to quickly close transactions.

Selling probate real estate can be somewhat tricky, so it is best to obtain legal counsel to ensure proper protocol is followed. Some states require estate executors to obtain court authorization to sell probate property.

When more than one heir is entitled to real estate, all beneficiaries must agree to the property sale. If heirs refuse to relinquish property rights and the estate does not possess adequate funds to maintain the home, a probate judge can order the estate administrator to sell the property to probate liquidators without obtaining approval from beneficiaries.

Probate liquidators purchase all types of probate real estate including: single family residences, individual condominium units, manufactured and mobile homes, vacation and rental houses, vacant land and commercial real estate.

While real estate in Wyoming can be one of the more profitable investments for probate liquidators, they will buy nearly any type of inheritance asset that will yield a profit. Popular items include automobiles, boats, recreational vehicles, motorcycles, jewelry, antiques, art, collectables and valuable household items such as refrigerators, washers and dryers, and furniture.

Many probate liquidators offer other types of estate services which can assist the personal probate representative. Most probate liquidators can assist in organizing estate auctions. Others offer assistance in locating missing heirs and lost property. Some specialize in locating buyers for commercial real estate, rental properties, or businesses.

It is imperative to conduct research before entering into contract with probate liquidators. Check with the Wyoming Better Business Bureau. Make certain the individual or company is licensed to conduct business and holds proper permits and business insurance. Selling inheritance assets can be a difficult experience, so be certain you are placing your loved ones belongings in the hands of a trustworthy probate liquidator. You don’t want issues with your Wyoming asset protection trust company.