The Cook Islands asset protection trust is the Fort Knox of asset security. An overseas trust from the Cook Islands is the ultimate in individual privacy and security– frequently imitated however never duplicated. If you wish to build an impregnable fortress offshore, you desire a Cook Island asset defense trust.
The Cook Islands asset protection trust is the best offered since it works. Whenever a well created Cook Islands trust has actually been evaluated in court by a civil lender, it has actually secured our customers assets.
Note that I stated civil financial institutions. The Cook Island trust is not intended to stay out the United States federal government. If you’re a United States resident, you must report your offshore trust and offshore bank account to the IRS. Likewise, you need to typically pay taxes on the gains within the trust.
Another reason Cook Islands trusts are the best 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 lender, you will turn over this responsibility to your offshore 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 till you have dispatched your enemy in the courts. If you require money, the trustee will send it to you. If you wish to purchase a residential or commercial property overseas or invest in gold, your trustee can facilitate that on your behalf.
This is why the Cook Islands asset protection trust is the best of both worlds– you have 100% control of the properties unless and up until you come under attack. If that happens, a trusted and expert trustee steps in to your shoes and handles the trust per your previous directions.
Note that this max secure offshore trust is indicated to protect your assets from future civil financial institutions. If someone sues you after you funded your overseas trust, there is absolutely nothing he or she can do to reach your assets. If they sue you prior to you money your trust, they can most likely tear down your walls and breach the castle.
The Cook Islands lies due south, near Australia and New Zealand in the same time zone as Hawaii. The trustees and other experts, with whom we have actually worked for over Ten Years, are legal representatives, Certified public accountants and other licensed professionals from New Zealand.
With the Cook Islands, you’ll be dealing with leading veteran lawyers from respectable jurisdictions. These are high level professionals and not the typical paper pushers you meet in the banana republics around the Caribbean.
Another benefit of the Cook Islands is that, needs to a financial institution 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 procedure will be reasonable which the laws will be administered effectively … another function frequently missing out on in less reliable Caribbean jurisdictions.
The next function of the Cook Island offshore asset protection trust is portability. You can move the trust and its properties from 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 state a creditor has actually won their case in United States and is attempting to impose their judgement in Cook Island. Presuming the statute of restrictions hasn’t run out, and it appears the creditor is advancing, you can pick up the assets of the trust and move them to another nation such as Belize or Cayman Islands. The financial institution may invest numerous thousands of dollars bringing an action in Cook Islands to find an empty treasure trove when he finally makes it past the gates.
Remember, when the statute of limitations clock runs out, New Zealand will refuse to hear any cases against your Cook Island trust.
Beating that statute of limitations is a really hard thing to do for a civil financial institution, especially one from the United States. Therefore, it’s uncommon for a creditor to even get the right to have their case against a Cook Islands overseas possession security trust heard.
This is due to the fact that the Cooks Islands statute of limitations is one year from the date the trust is moneyed or 2 years from the reason for action (the date the damage took place).
Since US litigation generally takes years, by the time the case is complete in the US, and the financial institution has a civil judgment they wish to impose in Cook Islands, the clock has gone out. That is to state, by the time the lender gets a judgement in the United States, they will be disallowed by the statute of limitations in the Cook Islands from gathering on that judgement.
Of course, we hope you never have to use your Cook Island property security trust. Perhaps problem never ever finds you and your structure sits unused as an insurance coverage. Possibly creditors decide not to sue since your possessions are out of their reach. Frequently the case is never ever brought because the US attorney refuses to take the case on contingency because the probability of collection is low.
If you do require 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 method the financial institution can enforce a judgement versus you in Cook Islands is to show beyond a reasonable doubt (an extremely high legal requirement) that the sole reason you setup the offshore trust was to move properties far from that particular lender.
Naturally, there are many needs to establish an offshore asset protection trust. For instance, to facilitate your international investments, worldwide estate planning, general security (not connected to one specific financial institution), and so on. Each of these factors must be recorded throughout the formation phase to support your use of a Cook Island trust.
So long as the trust is utilized to secure against future civil financial institutions, and not the United States federal government, your offshore structure will offer an impenetrable barrier through which no financial institution might pass.