The Cook Islands asset protection trust is the Fort Knox of property security. An overseas trust from the Cook Islands is the supreme in individual privacy and defense– frequently mimicked however never duplicated. If you want to build an impregnable fortress offshore, you desire a Cook Island property defense trust.
The Cook Islands asset protection trust is the best readily available due to the fact that it works. Whenever a well created Cook Islands trust has been tested in court by a civil financial institution, it has protected our customers properties.
Note that I stated civil financial institutions. The Cook Island trust is not planned to keep out the US federal government. If you’re a United States resident, you must report your offshore trust and offshore checking account to the Internal Revenue Service. Likewise, you should generally pay taxes on the gains within the trust.
Another reason a Cook Islands trust is the very best readily available is since it’s versatile. You, the settlor, can handle the assets of the trust up until a “bad thing” occurs. If you come under attack by a creditor, you will turn over this responsibility to your overseas trustee.
When you come under duress, your licensed, bonded and guaranteed trustee in the Cook Islands will step in and presume the management of your trust. They will captain the ship until you have dispatched your opponent in the courts. If you need cash, the trustee will send it to you. If you want to buy a property overseas or purchase gold, your trustee can help with that in your place.
This is why the Cook Islands asset protection trust is the best of both worlds– you have 100% control of the assets unless and until you come under attack. If that occurs, a relied on and expert trustee steps in to your shoes and manages the trust per your prior directions.
Note that this max safeguard overseas trust is implied to protect your properties from future civil creditors. If someone sues you after you moneyed your overseas trust, there is absolutely nothing she or he can do to reach your properties. If they sue you before you fund your trust, they can probably tear down your walls and breach the castle.
The Cook Islands is located due south, near Australia and New Zealand in the exact same time zone as Hawaii. The trustees and other professionals, with whom we’ve worked for over Ten Years, are attorneys, CPAs and other licensed specialists from New Zealand.
With the Cook Islands, you’ll be working with top veteran lawyers from respectable jurisdictions. These are high level experts and not the typical paper pushers you fulfill in the banana republics around the Caribbean.
Another benefit of the Cook Islands is that, must a lender bring suit against the trust, they’ll have to do it in New Zealand. Legal cases are heard in New Zealand courts who use Cook Islands law. You understand that the process will be reasonable which the laws will be administered correctly … another feature typically missing out on in less credible Caribbean jurisdictions.
The next feature of the Cook Island offshore asset protection trust is portability. You can move the trust and its properties out of the Cook Islands at any time. That’s right, a Cook Islands Trust can be relocated to another jurisdiction if you come under attack.
Let’s say a financial institution has won their case in United States and is attempting to enforce their judgement in Cook Island. Presuming the statute of restrictions hasn’t go out, and it appears the financial institution is making headway, you can get the possessions of the trust and move them to another nation such as Belize or Cayman Islands. The creditor might spend lots of countless dollars bringing an action in Cook Islands to discover an empty gold mine when he lastly makes it past the gates.
Remember, when the statute of restrictions clock goes out, New Zealand will choose not to hear any cases versus your Cook Island trust.
Beating that statute of restrictions is a very tough thing to do for a civil financial institution, specifically one from the United States. Hence, it’s uncommon for a creditor to even get the right to have their case against a Cook Islands overseas possession defense trust heard.
This is since the Cooks Islands statute of restrictions is one year from the date the trust is moneyed or 2 years from the cause of action (the date the damage took place).
Since United States litigation normally takes years, by the time the case is complete in the US, and the lender has a civil judgment they wish to implement in Cook Islands, the clock has run out. That is to say, by the time the creditor gets a judgement in the United States, they will be disallowed by the statute of constraints in the Cook Islands from gathering on that judgement.
Obviously, we hope you never ever have to utilize your Cook Island asset protection trust. Maybe difficulty never ever finds you and your structure sits unused as an insurance coverage. Possibly financial institutions decide not to sue due to the fact that your possessions run out their reach. Often the case is never ever brought since the US attorney chooses not to take the case on contingency since the likelihood of collection is low. For more information, contact Ora Fiduciary.
If you do need your asset protection trust, and it’s within the 1 or 2 year window, the Cook Island law is still there to support you. The only way the lender can enforce a judgement versus you in Cook Islands is to prove beyond an affordable doubt (a very high legal requirement) that the sole reason you setup the offshore trust was to move possessions far from that specific financial institution.
Obviously, there are lots of reasons to establish an offshore asset protection trust. For instance, to facilitate your global financial investments, global estate preparation, general defense (not related to one particular lender), and so on. Each of these reasons ought to be documented during the development stage to support your use of a Cook Island trust.
So long as the trust is used to protect against future civil creditors, and not the US government, your offshore structure will supply an impenetrable barrier through which no financial institution may pass.