ORIGINAL SENATE
FILE NO. SF0097
ENROLLED ACT NO. 66, SENATE
SIXTY-EIGHTH LEGISLATURE OF THE STATE OF WYOMING
2025 GENERAL SESSION
1
AN ACT relating to the uniform trust code; clarifying the
definition of "qualified trustee"; specifying who is
required to receive notice for judicial proceedings related
to trusts; specifying that no rule of perpetuities applies
to noncharitable purpose trusts; specifying when a trustee
can reimburse a person for certain tax costs attributable
to the trust; specifying applicability; and providing for
an effective date.
Be It Enacted by the Legislature of the State of Wyoming:
Section 1. W.S. 4-10-103(a)(xxxv)(intro), (B)(intro)
and (C), 4-10-109 by creating a new subsection (e),
4-10-410(a)(iv) and 4-10-816(a)(xxxi), (xxxii) and by
creating a new paragraph (xxxiii) and (b) are amended to
read:
4-10-103. Definitions.
(a) As used in this act:
(xxxv) "Qualified trustee", as used in article 5
of this act, means:
(B) A person authorized by the law of this
state to act as a trustee or a regulated financial
institution
following activities within this state:
(C) Neither the settlor,
indirectly through an entity, unless discretionary
distributions by the entity require the consent or approval
of one (1) or more disinterested persons who are not a
related or subordinate party with respect to the settlor
within the meaning of 26 U.S.C. § 672(c), nor any other ORIGINAL SENATE
FILE NO. SF0097
ENROLLED ACT NO. 66, SENATE
SIXTY-EIGHTH LEGISLATURE OF THE STATE OF WYOMING
2025 GENERAL SESSION
2
natural person who is a nonresident of this state, nor an
entity that is not authorized by the law of this state to
act as a trustee or is not a regulated financial
institution, may serve as a qualified trustee.
4-10-109. Methods and waiver of notice.
(e) For any judicial action or proceeding concerning
a trust under this act, notice shall only be required to be
provided to interested persons as defined in W.S.
4-10-201(d).
4-10-410. Noncharitable trust without ascertainable
beneficiary.
(a) Except as otherwise provided in W.S. 4-10-409 or
by another statute, the following rules apply:
(iv) No common law rule limiting the duration of
noncharitable purpose trusts is in force in this state, and
no common law rule of perpetuities that is otherwise in
force in this state shall apply to noncharitable purpose
trusts
4-10-816. Specific powers of trustee.
(a) Without limiting the authority conferred by W.S.
4-10-815, a trustee may:
(xxxi) Exercise elections with respect to
federal, state and local taxes; and
(xxxii) Decide each trust taxable year whether
principal distributions made from a trust to a beneficiary
include net realized capital gains and losses in section ORIGINAL SENATE
FILE NO. SF0097
ENROLLED ACT NO. 66, SENATE
SIXTY-EIGHTH LEGISLATURE OF THE STATE OF WYOMING
2025 GENERAL SESSION
3
643(a) of the Internal Revenue Code distributable net
income. and
(xxxiii) Except as otherwise provided under this
paragraph or under the terms of a trust, if all or any
portion of the trust is treated as being owned by a person
under 26 U.S.C. § 671 or any similar federal, state or
other tax law, the trustee may, in the trustee's sole
discretion, reimburse or pay on behalf of the person being
treated as the owner any amount of the person's personal
federal, state or other income tax liability that is
attributable to the inclusion of the trust's income,
capital gains, deductions or credits in the calculation of
the person's taxable income. This paragraph shall not apply
to a trustee who is the settlor or a person who is a
related or subordinate party to the settlor within the
meaning of 26 U.S.C. § 672(c). Neither the power authorized
under this paragraph or the exercise of the power under
this paragraph shall cause the settlor to be treated as a
beneficiary of the trust, the trust property to be
includable in the estate of the settlor or otherwise
entitle a creditor of the settlor to compel, attach or
otherwise encumber a payment authorized under this
paragraph. The provisions of this paragraph apply to all
trusts governed by the laws of this state unless an
independent trustee of the trust irrevocably elects
otherwise in writing.
(b) The provided in
(a)(xxviii) of this section shall not be
exercised in any manner that would prevent qualification
for a federal estate or gift tax marital deduction, federal
estate or gift tax charitable deduction, or other federal
income, estate, gift or generation-skipping transfer tax
benefit claimed for the trust from which the distribution ORIGINAL SENATE
FILE NO. SF0097
ENROLLED ACT NO. 66, SENATE
SIXTY-EIGHTH LEGISLATURE OF THE STATE OF WYOMING
2025 GENERAL SESSION
4
in further trust is made. If the trustee making a
distribution in further trust under paragraph (a)(xxviii)
of this section is a beneficiary of the trust from which
the distribution in further trust is made, the distribution
in further trust may not change the trustee's interest as a
beneficiary in the trust. A trustee shall not be liable for
exercising the permitted under
paragraphs (a)(xxviii) of this section if the
power is exercised in good faith.
Section 2. This act shall apply to all trusts created
or that become subject to the uniform trust code on or
after July 1, 2025. ORIGINAL SENATE
FILE NO. SF0097
ENROLLED ACT NO. 66, SENATE
SIXTY-EIGHTH LEGISLATURE OF THE STATE OF WYOMING
2025 GENERAL SESSION
5Section 3. This act is effective July 1, 2025.
(END)
Speaker of the HousePresident of the SenateGovernorTIME APPROVED: _________DATE APPROVED: _________
I hereby certify that this act originated in the Senate.
Chief Clerk