Law & Legal & Attorney Wills & trusts

Wyoming Estate Laws

    Probate Court

    • According to the website for the Wyoming state Legislature, the Probate Court has exclusive province over matters pertaining to the distribution of assets in will documents, the contesting of these documents, and makes the final determination as to the document's validity. A last will and testament must be turned over to the Probate Court for authentication before any real property such as vehicles or homes may be allowed to change hands. Property such as this is passed through a government trust agent who verifies the identity of the inheritor named in the will and authenticates that the property actually exists.

    Will Documents

    • Anyone in the state of Wyoming being of sound mind may create a last will and testament leaving all assets to whomever he chooses. The Probate Court will pay any of his outstanding debts using these assets first then distribute the remainder in accordance with the will. The will itself may name an executor to carry out the last wishes of the departed though the court still must approve and verify all transfers of real property.

    Legally Dead

    • According to the website for the Wyoming Legislature, barring the evidence of a body, a person is declared legally dead in the state if none of his relatives or someone that can reasonably be expected to have contact sees or hears from his for seven consecutive years. At such a time if the person has an existing last will and testament it may be turned over to the Probate Court so that the state can commence proper distribution of his assets.

    Estate Taxes

    • In Wyoming a person receiving an inheritance as part of a will is required to pay an inheritance or estate tax on the funds or property received. This state tax grants a person a credit he can apply to any applicable federal estate tax laws to avoid being double taxed. The actual tax rate for estates in Wyoming varies per calendar year though the law states that each estate must be taxed the maximum allowed in Wyoming. Anyone failing to properly pay these taxes is committing a misdemeanor punishable by a year in prison and a fine of not more than $1,000.

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