Wyoming § 4-10-516 Election to become a qualified spendthrift trust
by existing trust

Wyoming Statutes

§ 4-10-516 — Election to become a qualified spendthrift trust by existing trust

Wyoming § 4-10-516

Title 04Fiduciaries

Ch. 10UNIFORM TRUST CODE

Art. 5CREDITOR'S CLAIMS; SPENDTHRIFT AND DISCRETIONARY

This text of Wyoming § 4-10-516 (Election to become a qualified spendthrift trust by existing trust) is published on Counsel Stack Legal Research, covering Wyoming primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Wyo. Stat. Ann. § 4-10-516 (2026).

Text

(a)The settlor, trustee or trust protector of an existing irrevocable trust may elect in writing to treat the trust as a qualified spendthrift trust under this article, and the protection accorded under this article shall relate back to the date of the election subject to extinguishment of a creditor's claim with respect to a prior qualified transfer utilizing the procedures provided in W.S. 4-10-514, if:

(i)The trust is modified nonjudicially under W.S. 4-10-111 to conform to the provisions of W.S. 4-10-510 within one (1) year after the election; or

(ii)A petition is filed under W.S. 4-10-412 to conform to the provisions of W.S. 4-10-510 within thirty (30) days of the election.

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(a) The settlor, trustee or trust protector of an existing
irrevocable trust may elect in writing to treat the trust as a
qualified spendthrift trust under this article, and the
protection accorded under this article shall relate back to the
date of the election subject to extinguishment of a creditor's
claim with respect to a prior qualified transfer utilizing the
procedures provided in W.S. 4-10-514, if:
(i) The trust is modified nonjudicially under W.S.
4-10-111 to conform to the provisions of W.S. 4-10-510 within
one (1) year after the election; or
(ii) A petition is filed under W.S. 4-10-412 to
conform to the provisions of W.S. 4-10-510 within thirty (30)
days of the election.