SPEAKER
Katrina Robinson, CEO, TETON TRUST COMPANY tetontrustcompany.com
TOPIC and CONTENT
An Introduction to the Wyoming Statutory Foundation: a Merger of Civil Law Foundations and Common Law Trusts
- Wyoming enacted the Wyoming Statutory Foundations Act in 2019.
- WSFs are distinct legal entities separate from their founders and beneficiaries.
- Non-charitable WSFs mirror the structure of a civil law foundations.
- Any non-US foundation can migrate to Wyoming and the original organizational documents can become the WSF’s governing documents.
- For tax purposes, WSF can be treated as either corporations or trusts.
- An irrevocable, non-charitable WSF administered for the benefit of beneficiaries will likely be treated as a trust for federal tax purposes.
- In the US, the citizenship of trusts is determined by the controlling parties.
- A WSF with a substantial non-US controller will most likely be taxed as a “foreign trust.” As such, the foundation would only be subject to US tax on US-source income.
SPEAKERS CV
KATRINA ROBINSON is the CEO of Teton Trust Company (TTC), headquartered in Jackson Hole, Wyoming. With over $20 billion in assets under administration, TTC helps individuals and families plan, protect, and preserve their legacies.
Robinson also serves as CEO of the Cone Marshall Group, an international legal, accounting, and fiduciary services firm. She manages over 100 executives in over a dozen countries, specializing in trust management services, asset protection, succession planning, and governance. With offices in every key jurisdiction worldwide, Cone Marshall advises more than 2,000 international high-net-worth clients.
Robinson serves on the Board of Directors of the Metropolitan Commercial Bank (NYSE: MCB).
An attorney admitted to practice in New York, Robinson is a member of the Society of Trust and Estate Practitioners (“STEP”) and the International Tax Planning Association (“ITPA”). She is an internationally sought-after speaker on family trusts, cross-border succession planning, and asset protection.
Prior to law school, Robinson was a portfolio manager in the international wealth management division at the Royal Bank of Canada. Originally from Kingston, Jamaica, she earned her J.D. from Cardozo School of Law, an MPhil degree from the University of Cambridge, a B.A. from Princeton University, and graduated from Phillips Academy, Andover. She speaks Spanish and Portuguese.