Trusts

Trust Attorney in Cheyenne, Wyoming

Full-Service Trust Planning & Administration for Cheyenne Families

A trust is a legal arrangement in which a trustee holds and manages assets on behalf of named beneficiaries according to terms the grantor sets. Depending on how it’s structured, a trust can help your estate avoid probate, protect assets from certain creditors, provide for a loved one with special needs, or control exactly how and when beneficiaries receive what you leave behind. At Bailey | Stock | Harmon | Cottam | Lopez LLP, we handle the complete trust lifecycle for Cheyenne residents: drafting, amendment, reformation, and ongoing administration.

Our estate planning services cover both revocable and irrevocable trusts, special needs and Medicaid planning trusts, gift and estate tax planning, generation-skipping transfer tax planning, and estate tax return preparation. We also work alongside accountants and investment advisors to build strategies that are sound and flexible as your circumstances evolve. Our firm has served clients throughout Cheyenne and Laramie County since 1986.

To schedule a free in-person or virtual consultation with a trust lawyer at our Cheyenne office, call us today at (307) 222-4932.

Why Cheyenne Clients Trust Bailey | Stock | Harmon | Cottam | Lopez LLP with Their Estate Plans

Our attorneys bring over 175 years of combined experience across personal injury, business law, labor and employment, real estate, and estate planning. That breadth matters when trust planning intersects with business succession, real property, or tax strategy. It matters even more when a trust dispute arises. Our firm has handled cases before the Wyoming Supreme Court and the Tenth Circuit Court of Appeals, so when a trust question moves from the planning table to a courtroom, we don’t need to refer it out.

We hold an AV Preeminent rating from Martindale-Hubbell, an Avvo 10.0 Superb Rating, and Super Lawyers Rising Stars recognition from 2018 through 2023. Clients have praised us for our responsiveness, professionalism, and genuine care during difficult times. We aim to serve as long-term advisors across generations, not just for a single transaction. Clients receive direct communication and a planning approach tailored to their actual goals.

Types of Trusts We Prepare for Wyoming Residents

Trusts are practical planning tools for families at many asset levels, not only large estates. The right structure depends on your goals, your family’s situation, and how you want assets managed and distributed. We prepare the following types of trusts, among others:

Revocable Living Trust
You retain control during your lifetime and can modify or revoke the trust at any time. When you pass away, assets held in the trust typically transfer to beneficiaries outside of probate, preserving privacy and streamlining the process for your family.

Irrevocable Trust
Once established, an irrevocable trust generally can’t be changed without the consent of the trustee and beneficiaries, and in many cases, court involvement is required. When properly drafted, it may offer asset protection from certain creditors and can reduce estate tax exposure.

Special Needs Trust
Designed to support a beneficiary with a disability without disqualifying them from Medicaid or Supplemental Security Income eligibility. This structure lets you provide financial support while preserving access to government benefits.

Testamentary Trust
Created through a will and taking effect at death, a testamentary trust doesn’t avoid probate but allows ongoing management of assets for minor children or beneficiaries who may need help managing a larger inheritance.

Asset Protection Trust
Wyoming statutes permit self-settled spendthrift trusts that, when properly structured, can protect assets from certain future creditors while still providing benefits to the grantor.

Charitable Trust
Allows you to benefit a nonprofit or charitable cause while potentially generating income and tax advantages for yourself or your beneficiaries during your lifetime.

Start Your Trust Plan with a Free Consultation

Whether you’re establishing a trust for the first time, updating a plan after a major life change, or navigating trust administration as a trustee or beneficiary, our team is ready to help. We serve clients throughout Cheyenne, Laramie County, and across Wyoming.

Consultations are available in person and virtually at no charge. (307) 222-4932 or reach us through our online contact form to schedule your free consultation with a trust attorney in Cheyenne.

Wyoming Trust Law: What Cheyenne Residents Should Know

Wyoming is widely recognized as a trust-friendly state. Its statutes permit self-settled spendthrift trusts, which allow a grantor to name themselves as a beneficiary while still receiving creditor protection under certain conditions. Wyoming also imposes no state income tax and no state gift tax, which can make certain trust structures advantageous for wealth transfer and long-term tax planning.

Any trust must comply with Wyoming’s Uniform Trust Code requirements regarding formation, trustee duties, and beneficiary rights to be enforceable. State law also governs the fiduciary duties imposed on trustees, including the duty of loyalty, the duty of prudent investment, and the duty to maintain accurate records and provide accountings to beneficiaries. Trusts that are improperly drafted or left unfunded after signing may fail to achieve their purpose entirely. Real estate and financial accounts not formally transferred into the trust remain subject to probate regardless of the trust’s terms.

The Trust Planning & Administration Process

The process starts with understanding your goals. During your initial consultation, we discuss what you want to accomplish, who will serve as trustee and successor trustee, who your beneficiaries are, and which assets you intend to transfer into the trust. Proper funding, the formal transfer of assets into the trust, is as important as the drafting itself.

Preparing Documents Alongside Your Trust

We commonly prepare powers of attorney and advance healthcare directives alongside trusts to ensure that, if you become incapacitated, both your financial and medical decisions are covered. When life circumstances change, whether a marriage, divorce, new child, or shift in assets, we handle trust amendments and reformations to keep your plan current.

Trust Administration After the Grantor’s Death or Incapacity

When a trust must be administered after the grantor’s death or incapacity, we represent trustees, personal representatives, and beneficiaries throughout that process. Administration involves notifying beneficiaries, inventorying trust assets, managing or liquidating assets according to the trust’s terms, filing required tax returns, and making proper distributions. Our broader litigation background provides additional depth when administration becomes contested.

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Over 175 Years of Combined Experience
Consistent & Reliable Client Communication
Millions Recovered for Personal Injury Clients
Diverse & Extensive Appellate Experience
Excellence in Written & Oral Advocacy
Longstanding Reputation for Honesty & Trust
Genuine Concern for Our Clients & Their Families

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Proudly Serving Clients Across the State of Wyoming

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