everything you need to know about a Cook Islands trust asset protection doesn't have to be a complicated or scary process I'm asset protection attorney Blake hairs and I'm here to help you secure the fruits of your labor drawing on my years of experience vast network of offshore Partners my goal is to help individuals like you cultivate and Safeguard their legacy through a Cook Islands trust whether you're a business owner a professional or an individual with even a moderate level of wealth asset protection is a vital step to secure your hard-earned assets is a cook Island's trust your key to Financial security well here's everything you need to know about a Cook Islands trust what is a Cook Islands trust a Cook Islands trust provides the highest level of asset protection by placing your cash Investment Portfolio cryptocurrency real estate or other Assets in a Cook Islands trust you can effectively Safeguard your wealth from legal threats in your home country many wealthy individuals choose the cook island due to its favorable laws during legal proceedings the country's legal system is highly favorable towards defendants and Trust owners in legal proceedings like seizures or pies malpractice claims divorce bankruptcy business disputes and other legal actions even us courts are unable to reach assets held in cook Island asset protection trust why use a Cook Islands trust well for one you've got Peace of Mind knowing that you can access your funds whenever you need them so long as you're not under duress from the court people in high-risk professions such as business vendors bankers lawyers doctors and others can use a cook Island's trust to protect their assets during an economic or political crisis you can also use a trust for preserving wealth sharing wealth among family members estate planning retirement planning diversifying assets reducing estate taxes protecting against lawsuits and holding stock and various other assets why is the Cook Islands the best jurisdiction for creating an asset protection trust it gives you peace of mind knowing your wealth is safe you can place and protect a wide range of Assets in a cook Island's trust from cash bonds cryptocurrency real estate and much more it protects you from creditors why spend your life in fear of a potential lawsuit cook Island's law has a statute of limitations that protects your assets from all legal actions from creditors who go after you or the trust itself the safest and best option to go offshore domestic trusts are very risky you might not receive the protection you desire from your creditors if you live in a state that does not allow adaps and form one in another state the Cook Islands boasts an extremely defendant friendly judicial system with multiple barriers to litigation regardless of where you live the Cook Islands does not recognize court orders from outside the Cook Islands it is userfriendly your assets do not need to be located in the Cook Islands to be protected most of the time they're not in the Cook Islands you can make all transactions electronically and choose from several jurisdictions where to open a foreign bank account under your trust including Switzerland and lonstein when should I set up a cook Island's trust asset protection is like fine wine the longer you have it the better it becomes while it's never too early to set up an offshore asset protection trust it can be too late the best time to create an offshore trust is when things are calm and before any storm clouds show up on the horizon offshore asset protection trusts provide the best level of protection when they are established well in advance before a legal threat arises generally a year or two is enough time to demonstrate that the offshore trust was not created in response to any lawsuit or the intent to avoid paying any specific party creating an offshore trust shortly before a lawsuit is filed against you may still be possible but it can create a negative presumption and draw more scrutiny from the courts nonrecognition of US court orders one of the biggest Advantage is that US court orders simply don't hold Sway in the Cook Islands this means that even if a planted manages to obtain a court order in the US it's virtually meaningless when it comes to your assets in the Cook Islands trust this lack of recognition provides a solid Shield against outside legal interference costly for plaintiffs to litigate in the Cook Islands litigating in the Cook Islands isn't just a walk in the park for plaintiffs like it is in the United States in fact it can be more costly and cumbersome process the legal system in the Cook Islands isn't as accessible or straightforward as it might be in other jurisdictions the expenses involved in pursuing legal action there are a significant deterrent for plaintiffs making it less likely for them to pursue claims against assets held in a Cook Islands trust challenging for plaintiffs to win cases even if a plaintiff decides to take the plung and litigate in the cook Island the odds are stacked against them the cook Island's legal system is renowned for its defendant friendly nature making it inherently difficult for plantiffs to secure favorable outcomes how does a cook Island's asset protection trust protect me the cook Island's legal system is very favorable towards individuals defending them themselves in legal proceedings such as seizures and lawsuits and it is widely considered to be among the most protective systems in the world the offshore asset protection trust statues on the Cook Islands are among the most daunting asset protection laws even lawsuits or judgment originating from powerful countries like the United States will not be able to reach assets placed in a trust there to be protected by these statutes assets must be placed in a Cook Islands asset protection trust while your assets are in a trust you can still retain beneficial ownership and can transact with them or request your trustee to transfer assets in or out of your trust if a US court orders that you must turn over your assets you must comply to the point you are able to do so failure to comply with a court order is considered contempt of court and generally carries heavy penalties including fines and incarceration however since the assets are under the administration of a trustee outside the United States a US Court's Jurisdiction does not reach a cook Island's trustee so you will not have the ability to hand over any assets assigned to a cook Island's trust which will defeat purpose of the court order to demonstrate to the court that you are cooperating with a court order you can instruct your trustee to obey and hand over the asset however because the laws of the Cook Islands prevent trustees from surrendering assets from a trust if one is under dress from a court order the trustee must legally refuse to release the assets what can a Cook Islands trust protect just about anything you can protect various types of liquid and tangible assets such as intellectual property investment portfolios real estate cryptocurrency life insurance policies and other types of financial assets that said these trusts are most effective for protecting cash or stocks in a safe foreign bank or brokerage account any fund on deposit with the US Bank can potentially be reached by the US court system in order to take full advantage of the protections offered by a Cook Islands trust it is best to deposit monies in a non us account such as an account in Switzerland or lonstein what is the process for setting up a Cook Islands trust step one give me a call and engage Blake Harris law to set up your cook Island's trust step two sign the trust documents prepared by Blake Harris law step three Get Trust Company approval we will submit the documents to the Cook Island trustee for approval and approximately 2 weeks later your trust should be established step four transfer your designated assets into the trust which includes step number five opening an offshore or Swiss bank account once the trust is established you will then open an offshore bank account in a jurisdiction such as Switzerland Leen Stein or the Cook Islands this process of opening a bank account also takes about 30 days and that's it quick easy and hassle-free when you work with an experienced Law Firm like my firm enjoy the peace of mind that comes with knowing your wealth is now safe inside of a Cook Islands Trust oh [Music]