There is offshore asset protection and then there is Cook Islands offshore asset protection. There are few offshore asset protection trusts that can offer you the kind of security and reliability than those set up within the jurisdiction of Cook Islands.
An offshore protection trust in the Cooks allows you to retain control over your money before any creditor files legal action against you. Of course for that to happen, your trust must have been set up before any creditor initiates action against the trust. Once a creditor files a lawsuit against you, your trustee will maintain control over the money for you. If you are in need of money, you can even get your trustee to transfer some funds to someone you know, like a friend or relative, who can then pass on the funds to you. So, you still have control over your money even if you technically don’t have control over your assets.
The bottom line is that even though you have some control over your money at all times, there is simply no way that creditors and plaintiffs can get access to your assets. That’s because the Cook Islands asset protection trust is designed never to allow access to creditors even on your orders. So, when you have a court in the US telling you that you must pay a plaintiff $5 million, you can refuse to do so, and be held in contempt. You can also order your trustee to pay the money, thereby assuring that you escape contempt of court. The trustee, however, will refuse to release any part of your assets. This kind of trust is virtually foolproof because the trustee isn’t required to obey any court order from a US jurisdiction.
It’s a completely foolproof, watertight offshore asset protection trust, and few jurisdictions in the world promise that kind of solid reliability. It’s why we often recommend a Cook Islands offshore asset protection trust, and we have never been proved wrong.
This Post Has 0 Comments