How Much Does It Cost to Set Up an Income Trust in Wyoming?
An elder-law attorney typically charges $1,000–$2,500 to research Wyoming's Qualified Income Trust requirements and draft the trust — Wyoming publishes no fill-in form, so drafting happens either way. This $97 guide is the research part: WDH's own requirements, cited clause by clause, so the attorney's fee reflects drafting alone. This guide does not draft the trust or advise on your specific situation — it is informational only, not legal advice.
What an attorney typically charges
An elder-law attorney typically charges $1,000–$2,500 to research Wyoming's requirements and draft the trust — and because Wyoming publishes no fill-in form, that research-and-draft work happens either way.
What the $97 guide covers instead
This guide is the research part of that engagement: WDH's own requirements, explained clause by clause and cited to Wyoming Medicaid Rules Chapter 18 (Medicaid Eligibility), Section 8(c)(iii) "Income Trust" -- 048.0037.18 Wyo. Code R. § 18-8(c)(iii); cross-referenced by the Wyoming Eligibility Online Manual (EOM) M805 (Determining Treatment of Resources Within Trusts), M200 (Definition of Terms), M1001A (Nursing Home/Swing Bed), and M906 (Completing Medical Assistance Computations, Income Trust distribution rules); federal authority 42 U.S.C. § 1396p(d)(4)(B), so an attorney's fee reflects drafting alone instead of research plus drafting.
When the attorney's fee is worth it anyway: significant assets, prior gifting, a second marriage, or multi-state property. Those are fact-specific questions this guide does not answer — for them, consult a Wyoming-licensed elder-law attorney regardless of which route you take on the trust itself.
The trust's money and the guide's price are separate
A Wyoming Miller Trust holds only the applicant's income and pays only for the applicant's own care — it is never used to pay this guide's price or an attorney's fee. Whatever you spend to set the trust up happens outside the trust.
Before you go to the Wyoming bank
Most wasted trips are a bank-procedure problem, not a trust problem. This free one-pager has the questions to ask on the phone before you drive to a branch — emailed now. We'll also send 4 short follow-ups over the next 3 weeks (why most denials are paperwork not eligibility, the trustee role, when to call an attorney) — then we stop. No ongoing newsletter.
Common questions
- Is a Miller Trust cheaper than hiring a lawyer in Wyoming?
- Usually, yes, for the core setup. An elder-law attorney typically charges $1,000–$2,500 for the same work — for complex estates (significant assets, prior gifting, a second marriage, multi-state property), the attorney's fee is worth it regardless of how the trust itself gets set up.
- Does setting up the trust cost money out of the trust itself?
- No. a Wyoming Miller Trust holds only the applicant's own income and pays only for the applicant's own care. Whatever it costs to set the trust up — an attorney's fee or anything else — is separate from the money that flows through the trust each month.