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Current as of January 01, 2024 | Updated by Findlaw Staff
(a) Except as otherwise provided in this section, “qualified transfer” means a transfer, conveyance or assignment of property, by or from a settlor, with or without consideration, to a qualified trustee, under a trust instrument which meets the requirements of W.S. 4-10-510. “Qualified transfer” also includes:
(i) A change in the legal ownership of property occurring upon the substitution of a qualified trustee for another or the addition of one (1) or more qualified trustees; or
(ii) The exercise of a power so as to cause a transfer of property to a qualified trustee.
(b) A qualified transfer shall require an affidavit from the settlor making the transfer to the trustee of the qualified spendthrift trust in the form provided in W.S. 4-10-523, except that no affidavit shall be required for a transfer under W.S. 4-10-515.
(c) The term “qualified transfer” does not include the release or relinquishment of an interest in property that previously was the subject of a qualified transfer.
Cite this article: FindLaw.com - Wyoming Statutes Title 4. Trusts § 4-10-512. Qualified transfers; exception - last updated January 01, 2024 | https://codes.findlaw.com/wy/title-4-trusts/wy-st-sect-4-10-512/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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