Cook Islands Offshore Trusts as Part of Your Newport Beach Estate Plan

7:36 pm Uncategorized

Of all the many places where an offshore account or trust can be set up, the Cook Islands offer some of the world’s best protection against lawsuits. For those of us who are high net worth individuals, especially those of us who are at a higher risk for lawsuits such as medical malpractice, foreign trusts in the Cook Islands have bulletproof protection for liquid assets and assets that can be quickly liquidated. For these reasons, considering a Cook Islands trust as part of your Newport Beach estate plan is a wise choice.

For a US plaintiff who has sued you, attempting to get to your assets held in a Cook Islands trust is generally so costly that endeavoring to reach them is usually not worth it. The reason for this is that the Cook Islands have among the toughest laws for protection of assets.

Your foreign trust is held in the highest confidentiality available in the world. Additionally, trustees and/or trustee companies assigned to your trust are strictly monitored by the Cook Islands’ highly structured and enforced legislation. The professionals in the Cook Islands that offer any services to your foreign trust are highly educated in asset protection and work under legislation so well crafted that it has been emulated in jurisdictions across the world.

Setting up your Cook Islands trust is something you will want to do as soon as you are able to; attempting to transfer money after a creditor has already filed claim or after you know you are being sued will not offer the protection you are looking for. An offshore trust should be used as preventative medicine, not as a way to cure a problem that already exists. No foreign judgments are enforceable in the Cook Islands – except for those in which proof of fraudulent transfer has been empirically proven.

Jeff Matsen can help you open your Cook Islands trust, ensure that assets have been transferred to the trust, register the trust under the asset protection laws of the Cook Islands, and help your trust maintain compliance when regulatory requirements change. Contact Matsen today to find out if a Cook Islands foreign trust is a good choice for your Newport Beach asset protection plan.

Contact us today and let our Newport Beach law firm help you with all your financial planning needs.

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