A trust - A LLC and a breach of of duty
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.