SF 97 Wyoming House · 2025 Regular Session

Trust code revisions.

Wyoming's SF 97 revises the state's uniform trust code to clarify key rules for trust management. It defines "qualified trustee" to include regulated financial institutions while restricting non-residents or unlicensed individuals from serving in this role. The bill removes time limits (perpetuities) for noncharitable purpose trusts, allows trustees to reimburse trust owners for tax costs attributable to the trust, and specifies who must receive court notice for trust-related cases. These changes apply to all trusts governed by Wyoming law created or subject to the code on or after July 1, 2025.

Bill status signed all 5 stages cleared

Introduction

Jan 2025

Committee Review

Feb 2025

Senate Passage

Feb 2025

House Passage

Mar 2025

Signed into Law

Mar 2025

Introduced Jan 22, 2025 Signed Mar 5, 2025

Maddy AI version diff · 1 comparison

What changed between versions

Introduced → Enrolled · 6 edits · Mar 5, 2025

MODERATE

This bill updates Wyoming's Trust Code to clarify who qualifies as a 'qualified trustee', simplify notice requirements for court proceedings involving trusts, and eliminate common law rules limiting how long noncharitable purpose trusts can last. It also adds new powers for trustees to reimburse beneficiaries for certain tax liabilities and clarifies restrictions on those powers.

Scope change

The bill applies to all trusts created or subject to Wyoming's trust code on or after July 1, 2025, with no change to the overall scope of applicability.

DEFINITION

Clarified the definition of 'qualified trustee' to specify who may serve in that role, excluding the settlor and certain related parties unless specific conditions are met.

Eliminated common law rules of perpetuities that would limit the duration of noncharitable purpose trusts.

REQUIREMENT

Simplified notice requirements for judicial proceedings involving trusts, limiting notice to interested persons as defined in the trust code.

Added restrictions on trustee powers to prevent disqualification from federal estate and gift tax benefits.

FISCAL

Added authority for trustees to reimburse beneficiaries for certain income tax liabilities attributable to the trust, with protections against creditors and estate tax consequences.

TECHNICAL

Added an effective date provision setting the law into effect on July 1, 2025.

Floor votes · Senate Feb 3, 2025 · House Mar 3, 2025

How they voted

31–0

Passed

Total votes 31

Feb 3, 2025

D Democratic2

2 Yea

100% Yea

R Republican29

29 Yea

100% Yea

Vote distribution

All Yea All Nay Mixed No data

Full legislative history

Actions timeline

Total actions

Key actions

Committee

Mar 5, 2025

Signed into law

Governor Signed SEA No. 0066

legislature

Mar 3, 2025

Lower · Passed

H 3rd Reading:Passed 60-0-2-0-0

lower

Feb 28, 2025

Lower · Passed

H COW:Passed

lower

Feb 25, 2025

Lower · Passed

H09 - Minerals:Recommend Do Pass 8-0-1-0-0

lower

Feb 18, 2025

Introduced

H Introduced and Referred to H09 - Minerals

lower

Feb 3, 2025

Upper · Passed

S 3rd Reading:Passed 31-0-0-0-0

upper

Jan 30, 2025

Upper · Passed

S COW:Passed

upper

Jan 27, 2025

Upper · Passed

S09 - Minerals:Recommend Do Pass 3-0-2-0-0

upper

Jan 22, 2025

Introduced

S Introduced and Referred to S09 - Minerals

upper

1 primary · 3 co-sponsors