One of the questions I’ve been asked most this summer is, “Why Jackson?”
The simple answer is that my three daughters are spending the summer at camp in North Carolina. As any parent knows, a season like this doesn’t come around many times, and I wanted to maximize this time in a place that could really benefit from a short or longer term Somerset presence.
The longer answer is that Jackson has become an extraordinary place to study, listen, and learn.
Wyoming in the past five years has established itself as one of the country’s most thoughtful jurisdictions for trust and business planning. The state has developed modern trust laws that have attracted families, business owners, and advisors from across the country who are thinking carefully about preserving wealth across generations.
One area I’ve been particularly interested in exploring is Wyoming’s approach to Private Trust Companies. While a traditional corporate trustee may be the right fit for many families, others are looking for structures that allow them to maintain greater continuity, privacy, and family involvement while still benefiting from sound governance. Wyoming’s legal framework has made it one of the leading states for families considering these types of solutions.
That doesn’t mean every family needs a Wyoming trust, or even a Wyoming trustee. Estate planning is rarely one-size-fits-all. Every family’s goals, relationships, tax considerations, and state of residence deserve thoughtful analysis. The right structure begins with the family’s purpose, then follows the law that best supports it.
For me, this summer has been an opportunity to deepen those conversations. I’ve spent time meeting with attorneys, fiduciaries, and professionals who work in this space every day, learning how the legal landscape continues to evolve and considering what those developments may mean for the families Somerset serves.
One of the greatest privileges of this profession is that learning never stops. Whether I’m in Charlottesville, Birmingham, Beaufort, or Jackson, my responsibility remains the same: to keep asking better questions, exploring new ideas, and bringing those insights back to the families who have entrusted us with their confidence.
So yes, the girls are at camp and while they’re building lifelong memories, I’m building relationships, studying one of the country’s most innovative trust jurisdictions, and bringing home ideas that may benefit our clients for years to come.
Lauren Pearson is the founding partner and Managing Director of Somerset Advisory, an independent wealth management firm built to serve the complex needs of multigenerational families, entrepreneurs, and executives.