Frequently Asked Questions

Glad you asked! Pretend that your family owns well-to-do dining establishment. A patron slips on the steps to the entrance and suffers brain damage from landing on their head (I high reward case for the plaintiff). The spouse of the patron is orally threatening to file suit, but nothing has been filed yet.

This where Once Fiduciary can organize your family office and transfer your family's interest to Wyoming and place the cashflow in their banks. This would force the plaintiff to settle with the insurance company and any amount of the settlement not paid by the policy would turn into a deficiency judgment. Wyoming would then place a protection on your company and only allow payments towards the deficiency when distributions are made, NOT foreclose the entity to satisfy it like other states allow.

Asset protection was typically catered to the ultra wealthy. High-end attorneys and trust companies sifted through the enterprise community looking for "Vanderbilt-type" clients. The industry completely ignored the rest of well-to-do America because of the compliance cost. But Wyoming has simplified the process to initiate such high-powered entities. However, it's the daily management and compliance that gets tricky. That's where Once Fiduciary draws upon its collective experience to keep things running smoothly. 

We prefer the term "challenge." There are challenges to maintaining a family office. Any active loans with a lender could trigger a "due on sale" dispute (usually handle favorably). Plus, Wyoming's anonymity could make entity credit a challenge to establish and maintain. Again, there are ways to address the issue.

Email us here or call this number (307) 263-0760. Someone will contact you promptly.