Wyoming Revocable Living Trust

Revocable Living Trust requirements in Wyoming

You must be at least 18 years old and of sound mind.
You need a written trust document that names a trustee and beneficiaries.
You must fund the trust by transferring ownership of your assets into it.
In Wyoming, the trust document does not need to be notarized to be valid, but notarization is recommended for real estate transfers.
There is no requirement to file the trust with any court or state agency. It's a private document.
You must sign the trust document to make it legal.

Ready to create your Wyoming revocable living trust? Start with our simple online template today.

How to create a Revocable Living Trust in Wyoming, step by step

Decide what property to put in the trust (like real estate, bank accounts, investments).
Draft a trust document. You can use a living trust template or hire a lawyer.
Sign the document in front of a notary public (optional but recommended).
Transfer ownership of your assets to the trust. For real estate, record a new deed with the county recorder.
Update beneficiary designations on accounts and policies to name the trust.
Keep the trust document with your important papers and tell your trustee where it is.

Cost considerations

In Wyoming, you can create a revocable living trust using an online template for $50 to $200. Hiring an attorney typically costs $1,500 to $3,000. Costs include notary fees and recording fees for real estate deeds, which are small.

Wyoming Revocable Living Trust: Pre-Start Checklist

Before creating your revocable living trust in Wyoming, gather essential documents and understand the state's requirements to ensure a smooth process.

Gather a complete list of your assets, including property titles, bank accounts, investments, and insurance policies—you'll need these to properly fund the trust.
Decide on a successor trustee who will manage the trust if you become incapacitated or pass away; choose someone you trust and name an alternate.
Confirm your Wyoming notary requirements: your signature on the trust document must be notarized, and you should have two witnesses present (though notarization alone is sufficient if you sign before the notary).
Ensure the trust document is self-proving: include a notarized affidavit from your trustee and witnesses to simplify probate later.
Prepare to sign the trust document in front of a notary and witnesses, and be ready to update beneficiary designations on life insurance and retirement accounts to align with the trust.
Avoid common pitfalls: do not fail to fund your trust by transferring asset titles, and ensure you sign all documents correctly to avoid legal challenges.

Common questions

Is a revocable living trust the same as a will in Wyoming?

No. A will goes through probate and only takes effect after death. A revocable living trust avoids probate and manages assets during your life and after.

Do I need to file a revocable living trust with the state of Wyoming?

No. There is no filing requirement. The trust is private, but you must record a deed if you transfer real estate into it.

Can I be my own trustee in Wyoming?

Yes. You can be the trustee and beneficiary while alive. This means you keep full control of the trust assets.

What if I want to change or cancel my trust later?

Since the trust is revocable, you can amend or revoke it at any time. You just need to follow the instructions in the trust document.