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Gonnella & Majors, PC

Estate Planning

    The attorneys at Gonnella & Majors, PC have extensive experience in the area of Estate Planning.  Gonnella & Majors, PC
    assists clients with the preparation of Last Will & Testaments, Revocable Living Trusts, Financial Powers of Attorney, Health
    Care Powers of Attorney, and Living Wills.

    Gonnella & Majors, PC also works closely with high net worth individuals and families in implementing advanced estate planning
    strategies, including:

  • Qualified Personal Residence Trusts (QPRT)
  • Wyoming Dynasty Trusts
  • Domestic Asset Protection Trusts (DAPT)
  • Irrevocable Life Insurance Trusts (ILIT)
  • Intentionally Defective Grantor Trusts (IDGT)
  • Family Limited Partnerships (FLP)
  • Limited Liability Companies (LLC)
  • Private Foundations
  • Charitable Remainder Trusts (CRT)
  • Charitable Lead Trusts (CLT)
  • Gifting Trusts
  • Stand Alone Retirement Trusts
  • Build Up Equity Retirement Trust (BERT)
  • Private Trust Companies
  • Family Offices    
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Business Planning

    The attorneys with Gonnella & Majors, PC serve as legal counsel for many individuals, small businesses, and Nonprofit
    Corporations.  Our attorneys and staff assist clients with the formation of simple business entities for their small businesses to
    advising clients on complex business transactions.        

    Business Formation

    Gonnella & Majors, PC can assist with the creation of:

  • Limited Liability Companies
  • Close Limited Liability Companies
  • Flexible Limited Liability Companies
  • Corporations
  • Close Corporations
  • S Corporations
  • C Corporations
  • Partnerships
  • General Partnerships
  • Family Limited Partnerships
  • Nonprofit Corporations       

    Business Operations

    In addition to the creation of new business entities, Gonnella & Majors, PC also assists clients with the management and
    ongoing operations of the business, including holding annual meetings, mergers and acquisitions, buy sell agreements, asset
    purchase agreements, license agreements, contracts, securities, dissolutions, gifting and business valuations.
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Income Tax and Estate Tax Planning

    The State of Wyoming is tax friendly and advantageous to individuals and business entities due to its favorable tax and
    business laws.  Bloomberg Wealth Manager magazine has consistently ranked the State of Wyoming as the friendliest state in
    the nations for wealthy people.  These reasons include:

  • No state income tax
  • No state inheritance/estate tax
  • No gift tax
  • No state capital gain tax
  • No franchise tax
  • No excise tax
  • Low property taxes
  • No business or occupation tax
  • No intangibles tax

    In addition to tax friendly legislation, the State of Wyoming has also enacted favorable trust legislation and business legislation,
    making Wyoming a desirable place to situs businesses and trusts.  

    Due to its close proximity to Grand Teton National Park, Yellowstone National Park, world class skiing and culture, Jackson Hole
    is a desirable location for those individuals looking to establish residency or a second home in Wyoming.  The lawyers in our
    office advise clients from all over the country looking to move their residency to the State of Wyoming or their businesses or
    trusts to the State of Wyoming.

    Two of our attorneys, M. Jason Majors and David I. Beckett hold advanced degrees in Tax Law (LL.M.), and are experienced in
    representing clients with Tax Controversies before the Internal Revenue Service, structuring complex tax and business
    transactions, and advising clients on advanced estate tax and generation skipping tax strategies.          
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Asset Protection Planning

    Asset protection can be found in many different forms, including insurance, business entities, retirement accounts, homestead
    exemptions, and asset protection trusts.  These varying types of asset protection may be suitable for some individuals, while
    not suitable for others.  Gonnella & Majors, PC can help identify and implement those asset protection strategies that may be
    suitable for the client.

    Domestic Asset Protection Trust

    Effective as of July 1, 2007, the Wyoming Legislature enacted legislation permitting individuals to establish asset protection
    trusts in Wyoming, formally known as "Qualified Spendthrift Trusts" which can provide certain protection from creditors, liabilities
    and judgements.  Our office assist clients throughout the country with the establishment of domestic asset protection trusts in
    the State of Wyoming and Offshore Asset Protection Trusts outside the jurisdiction of the United States.

    Incorporate in Wyoming

    Creditor protection is one of the main reasons clients create business entities.  Many state statutes only give nominal creditor
    protection for their business entities; however Wyoming has favorable creditor protection legislation.  By way of example, the
    Wyoming Close LLC gives maximum protection as it mandates by statute that a creditor of a member of an LLC only has the
    rights of a transferee and that the charging order is the exclusive remedy by which a judgment creditor may satisfy a judgment,
    Wyoming Statute Section 17-15-145.  This statute enhances creditor protection over most other states for LLC's.   

    Gonnella & Majors, PC consults on a daily basis with clients desiring to take advantage of the Limited Liability Protection
    afforded through the establishment of Limited Liability Companies and Corporations in the State of Wyoming.
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Trust and Probate Administration

    Gonnella & Majors, PC works closely with clients, accountants, trustees, executors and family members on Trust and Probate
    Administration matters.  Our representation ranges from working with clients desiring to file a simple will with the Court, to
    complex trust and probate estate administrations. Our office can assist with the preparation of Estate Tax Returns, marshalling
    of estate assets, valuation of assets, probate litigation, and estate tax controversies before the Internal Revenue Service.  

    Gonnella & Majors, PC also works with out of state attorneys desiring to conduct an ancillary probate administration in the State
    of Wyoming.
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Trustee Services

    The attorneys at Gonnella & Majors, PC are available to serve as Trustee for those clients in need of a Trustee in the State of
    Wyoming or an independent Trustee.  The attorneys in our office have extensive knowledge and understanding of Wyoming
    Trust Law and Administration and are available to serve as trustees of:

  • Domestic Asset Protection Trusts
  • Irrevocable Life Insurance Trusts
  • Dynasty Trusts
  • Special Needs Trusts
  • Gifting Trusts
  • Trusts for the Benefit of Children and Descendants
  • Other Trusts

    As Trustee, the attorneys with Gonnella & Majors, PC are able to offer personal service and attention to the beneficiaries of the
    trust and is often an attractive and more affordable option to a corporate fiduciary, bank and trust company serving as
    Trustee.  
GONNELLA & MAJORS, PC
Attorneys and Counselors at Law
Areas of Practice
Gonnella & Majors, PC ▪ 575 South Willow Street ▪ P.O. Box 1226 ▪ Jackson, WY ▪ 83001
Phone (307) 733-5890 ▪ Facsimile (307) 734-0544 ▪ www.wyomingestatelaw.com


Disclaimer: Wyoming Rule of Professional Conduct 7.3(b), requires a notification that this is an advertisement.
The Wyoming State Bar does not certify any lawyer as a specialist or expert.  Anyone considering a lawyer
should independently investigate the lawyer’s credentials and ability, and not rely upon advertisement or self–
proclaimed expertise.
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