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A trust - A LLC and a breach of of duty

Posted by Gayla K. AustinMay 28, 20230 Comments

In Wyoming, a very useful estate planning and asset protection tool is transferring working assets into a LLC and that LLC interest into a trust.  However, both the manager of the LLC and the trustee. have a fiduciary duty to the LLC and to the trust, which means the manager must conduct business in a manner that the manager reasonably believes to be in the best interests or at least not opposed to the best interests of the company. This case discusses examples of that, and how to administer properly and within the law in Wyoming.

What Does it Mean to Fund a Trust?

Posted by Gayla K. AustinDec 15, 20221 Comment

Many people now choose to use a revocable living trust to pass along their estate to their survivors, instead of relying on the traditional last will and probate.   It may be best though, for you to create a trust.  And the question then is:  what does it mean to fund the trust--how do I do that?

COVID-19 And Tips for Avoiding Foreclosure

Posted by Gayla K. AustinApr 04, 20200 Comments

If having trouble keeping up with your mortgage payments is a concern right now because of the uncertainty at least for the short term, here are some tips.  1.  Don't ignore letters from your lender.  The first notices you will receive will offer good information about foreclosure prevention opt...