In a Wyoming Statutory Trust (WST), the concept of “ownership” is more flexible than in a standard corporation or LLC. Under Wyoming law (W.S. § 17-23-108), you have near-total freedom to decide how each series is owned and controlled.
Here is how the “ownership” (beneficial interest) works when you set up multiple series:
1. You can have Different “Owners” for Each Series
A major advantage of the WST is that you can divide “Beneficial Interests” differently for every silo.
- Series A (Michigan Corp): You could be the 100% beneficiary.
- Series B (New Venture): You could be a 50% beneficiary and a business partner could be the other 50%.
- Series C (Family Assets): You could name your children as the beneficiaries.
Even though all three series are part of the same “Master” Trust, the profits and assets of Series A belong only to the beneficiaries of Series A.
2. Percentage Limits: 0% to 100%
There is no legal limit on how much or how little a beneficiary can “own” of a specific series.
- Sole Ownership: You can own 100% of every series.
- Silent Partners: You can give a partner 99% of the “profits” of a series while you retain 100% of the “voting power” as the Trustee.
- Layering: One series can even “own” another series. For example, your “Master” series could own 10% of “Series A” as a management fee.
3. The “Legal Wall” (The Most Important Part)
For the ownership of each series to remain protected from the others, you must follow the Separation Doctrine found in Wyoming law:
- Separate Records: You must keep a separate ledger for each series showing who owns what percentage.
- Separate Assets: The assets of Series A (your Michigan stock) must be held in the name of “Series A” and not mixed with Series B.
- Notice: Your registered Certificate of Trust on file in Wyoming must explicitly state that “the debts, liabilities, and obligations” of one series are not enforceable against any other series.
Comparison of Ownership Styles
| Ownership Model | How it works | Best for… |
|---|---|---|
| Mirror Ownership | You own 100% of the Master Trust and 100% of every Series. | Total control and simplicity. |
| Fractional Ownership | Different people own different percentages of different Series. | Bringing in partners or investors for specific projects. |
| Generational Ownership | You own the Master, but “Series A” is set up for your kids. | Estate planning and avoiding future inheritance taxes. |
4. Who actually “Owns” it? (Legal vs. Beneficial)
Remember the core of your “doctrine”:
- The Trustee (you) has the Legal Title. You sign the papers and make the calls.
- The Beneficiary (you, or whomever you choose) has the Beneficial Interest. They get the money.
In Wyoming, you can be both, but to keep the asset protection “bulletproof,” it is often recommended to have a Successor Beneficiary (like a spouse or child) named in the document so the trust doesn’t “merge” and disappear if you are the only person involved.
Summary for your Michigan Corp Move:
If you move your Michigan stock to Series A, you will likely want to be the 100% Beneficial Owner of that series. This keeps the money flowing exactly as it did before, but with the Wyoming “silo” protecting the shares from any personal lawsuits or issues involving other assets.
Since you are considering multiple series, do you have a specific partner or family member you were thinking of giving “ownership” (beneficial interest) to in one of the other series?