Wyoming Bank & Trust – Trust Department
Wyoming Bank and Trust has developed into one of the premier Wyoming-based banks offering personal and corporate trust services. With the passage of legislation in the State of Wyoming that allows for the formation of Dynasty Trusts and Asset Protection Trusts (“Qualified Spendthrift Trusts”), Wyoming Bank & Trust has developed an expertise in managing these types of specialized personal trusts.
The Trust department currently has over $564 million of assets under management and services an additional $150 million in corporate trusts. The department uses SunGard for its trust accounting provider. Bank of New York serves as the department’s primary custodian, along with Fidelity for all mutual funds.
The department’s primary regulators are the Federal Reserve Bank and the State of Wyoming, with both regulators conducting regularly scheduled exams of the department. In addition, the department has an annual audit performed by an outside accounting firm. The department maintains errors and omissions insurance.
Wyoming Bank & Trust has served as the corporate trustee for billions in public debt issues. In addition, Wyoming Bank & Trust serves as the custodian trustee for numerous insurance companies throughout the United States.
Please take this opportunity to review our website for more information on the types of trust and investment services offered by us, and if you are an estate-planning professional, for references to Wyoming legislation pertaining to trusts.