Annual Trust Accounting and Trustee's Report (Wyoming Uniform Trust Code § 4-10-813(c))

ANNUAL TRUST ACCOUNTING AND TRUSTEE'S REPORT

Pursuant to Wyoming Statutes § 4-10-813(c)

I. TRUST IDENTIFICATION

II. TRUSTEE IDENTIFICATION

III. QUALIFIED BENEFICIARIES RECEIVING THIS REPORT (§ 4-10-813(c))

IV. SUMMARY OF ACCOUNT

V. SCHEDULE OF RECEIPTS (§ 4-10-813(c) — receipts)

A. Income Receipts

B. Principal Receipts

VI. SCHEDULE OF DISBURSEMENTS (§ 4-10-813(c) — disbursements)

A. Ordinary Administration Expenses

B. Distributions to Beneficiaries

C. Taxes

VII. STATEMENT OF ASSETS — BEGINNING OF PERIOD (As of [__/__/____])

VIII. STATEMENT OF ASSETS — END OF PERIOD (§ 4-10-813(c) — listing of trust assets and, if feasible, market values) (As of [__/__/____])

☐ Market values are reported where feasible. Items for which a reliable market value is not feasible are denoted "[NMF]" with an accompanying explanation in Section XII.

IX. STATEMENT OF LIABILITIES (§ 4-10-813(c) — liabilities)

☐ The Trust has no outstanding liabilities as of the end of the accounting period.

X. ALLOCATION BETWEEN INCOME AND PRINCIPAL (§ 4-10-813(c))

☐ All allocations follow the Wyoming Uniform Principal and Income Act (Wyo. Stat. § 2-3-801 et seq.) without discretionary adjustment.

☐ The following discretionary adjustments were made (with reasons):

[____________________________________________________________]

XI. TRUSTEE COMPENSATION AND AGENTS (§ 4-10-813(c) — trustee compensation; § 4-10-802 — duty of loyalty)

A. Trustee Compensation

B. Agents Hired by Trustee

C. Related-Party Transactions (§ 4-10-802)

☐ The Trustee did not engage in any transaction during the accounting period with the Trustee personally, with any entity in which the Trustee holds a beneficial interest, or with any agent related to the Trustee, other than as disclosed above.

☐ The following related-party transactions occurred and are fully disclosed for beneficiary review:

[____________________________________________________________]

XII. NARRATIVE OF MATERIAL EVENTS AND TRUSTEE ACTIONS

The following material events, decisions, and transactions occurred during the accounting period:

[____________________________________________________________]

[____________________________________________________________]

[____________________________________________________________]

XIII. LIMITATION OF ACTION NOTICE (§ 4-10-1005)

NOTICE TO BENEFICIARIES — LIMITATION OF ACTION

Under Wyoming Statutes § 4-10-1005(a), you may not commence a proceeding against the Trustee for breach of trust more than TWO (2) YEARS after the date you (or your representative) received a report that adequately disclosed the existence of a potential claim for breach of trust and informed you of the time allowed for commencing a proceeding. This Trustee's Report, including all schedules and the narrative in Section XII, is intended to provide such adequate disclosure of all material facts, transactions, and trustee actions during the accounting period stated above. If, after review of this Report, you believe a potential claim for breach of trust exists, the two-year period within which to commence a proceeding begins to run on the date you (or your representative) receive this Report.

If Wyo. Stat. § 4-10-1005(a) does not apply for any reason, then under Wyo. Stat. § 4-10-1005(c), a judicial proceeding by a beneficiary against the Trustee for breach of trust must be commenced within THREE (3) YEARS after the first of: (i) the removal, resignation, or death of the Trustee; (ii) the termination of your interest in the Trust; or (iii) the termination of the Trust.

XIV. BENEFICIARY OBJECTION MECHANISM

A beneficiary who has questions or objections to any item in this Report is encouraged (but not required) to deliver a written objection to the Trustee within [____] days of receipt, at the address in Section II. This informal mechanism does not extend, shorten, or substitute for the statutory limitations periods stated in Section XIII.

If the matter cannot be resolved informally, a beneficiary may:

• Pursue a nonjudicial settlement agreement under Wyo. Stat. § 4-10-111;
• File a petition under Wyo. Stat. § 4-10-201 in the Wyoming District Court for the county where the Trust is administered; or
• File a petition in the Wyoming Chancery Court (seated in Casper; effective December 1, 2021; expedited commercial, business, and trust docket, subject to statutory jurisdictional criteria).

Trustee Contact for Objections / Inquiries:

XV. OPTIONAL — RECEIPT AND RELEASE BY BENEFICIARY (§ 4-10-1009)

The undersigned beneficiary acknowledges receipt of this Annual Trust Accounting and Trustee's Report for the accounting period from [__/__/____] through [__/__/____], including all schedules and the narrative in Section XII. The undersigned states as follows:

1. I have received and reviewed this Report;
2. I have had the opportunity to consult with independent counsel of my choice before signing;
3. I know my rights under the Trust and under Wyo. Stat. §§ 4-10-101 et seq.;
4. I know the material facts set forth in this Report;
5. I have not been induced to sign by any improper conduct of the Trustee;
6. I hereby consent to, release, and ratify under Wyo. Stat. § 4-10-1009 all acts of the Trustee during the accounting period stated above as disclosed in this Report; and
7. I waive any claim against the Trustee for breach of trust based on conduct adequately disclosed in this Report.

Beneficiary Signature: [________________________________]

Print Name: [________________________________]

Date: [__/__/____]

XVI. TRUSTEE VERIFICATION AND SIGNATURE

I, the undersigned Trustee, declare under penalty of perjury under the laws of the State of Wyoming:

1. I have reviewed the foregoing Annual Trust Accounting and Trustee's Report and each schedule attached;
2. The information set forth is true, correct, and complete to the best of my knowledge, based on the books, records, and supporting documentation of the Trust;
3. All material receipts, disbursements, assets, liabilities, trustee compensation, agents (including any related-party agents), and material events for the accounting period stated above are disclosed; and
4. This Report is furnished pursuant to Wyo. Stat. § 4-10-813(c).

Executed on [__/__/____] at [____________________], Wyoming.

Trustee Signature: [________________________________]

Print Name: [________________________________]

Capacity: [________________________________]

XVII. PROOF OF SERVICE

I, the undersigned, declare that I am over the age of 18 years and not a party to this matter. My business or residence address is set forth below. On [__/__/____], I served the foregoing ANNUAL TRUST ACCOUNTING AND TRUSTEE'S REPORT on each qualified beneficiary identified in Section III, by placing a true copy thereof in a sealed envelope addressed to each such beneficiary at the address set forth in Section III, with postage thereon fully prepaid, and depositing the envelope in the United States Mail at [____________________], Wyoming, OR by personal delivery or other method permitted under Wyo. Stat. § 4-10-110 as indicated.

I declare under penalty of perjury under the laws of the State of Wyoming that the foregoing is true and correct.

Date: [__/__/____]

Signature: [________________________________]

Print Name: [________________________________]

Address: [________________________________]

SOURCES AND REFERENCES

• Wyo. Stat. § 4-10-813 (Duty to Inform and Report) — https://law.justia.com/codes/wyoming/title-4/chapter-10/article-8/section-4-10-813/
• Wyo. Stat. § 4-10-1005 (Limitation of Action Against Fiduciary) — https://law.justia.com/codes/wyoming/title-4/chapter-10/article-10/section-4-10-1005/
• Wyo. Stat. § 4-10-1008 (Exculpation of Trustee) — https://law.justia.com/codes/wyoming/title-4/chapter-10/article-10/section-4-10-1008/
• Wyo. Stat. § 4-10-1009 (Beneficiary's Consent, Release, or Ratification) — https://law.justia.com/codes/wyoming/title-4/chapter-10/article-10/section-4-10-1009/
• Wyo. Stat. § 4-10-105 (Default and Mandatory Rules) — https://law.justia.com/codes/wyoming/title-4/chapter-10/article-1/section-4-10-105/
• Wyo. Stat. § 4-10-111 (Nonjudicial Settlement Agreements) — https://law.justia.com/codes/wyoming/title-4/chapter-10/article-1/section-4-10-111/
• Wyo. Stat. § 4-10-201 (Role of Court in Administration of Trust) — https://law.justia.com/codes/wyoming/title-4/chapter-10/article-2/section-4-10-201/
• Wyo. Stat. § 4-10-802 (Duty of Loyalty) — https://law.justia.com/codes/wyoming/title-4/chapter-10/article-8/section-4-10-802/
• Wyoming Uniform Principal and Income Act — https://law.justia.com/codes/wyoming/title-2/chapter-3/article-8/
• Wyoming Chancery Court (effective December 1, 2021) — https://www.wyocourts.gov/court/chancery-court/