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Trust Setup

Cook Islands trust setupIn order to establish an offshore trust in the most favorable jurisdictions there are legal requirements that are summarized here. One signatory is needed for the settlor, the client who is having the trust created. The trustee needs another signature. Then we will typically establish a Nevis LLC. Nevis is a country in the Caribbean that has favorable Limited Liability Company (LLC) laws. This entity is established and placed into the trust so that the client has a legal tool inside of the trust that they can control when legal duress has not arisen.

Whereas, offshore trusts can also be set up for real estate protection, the strongest protection is provided for cash held by the trust that is located in an offshore account. Since US courts have jurisdiction over any US owned real estate, it is a stronger degree of protection to locate your assets offshore, out of reach of US judges. recommends only the offshore trust jurisdictions with strong asset protection laws so that your assets are statutorily protected.

It is critical that your offshore trust be located in a jurisdiction that
favors foreign beneficiaries and in a country that is strong politically. One such example is the Cook Islands. Another is Nevis. A third most favorable option, in our experience, is Belize. Setting up your offshore trust is a carefully performed engagement and should only be conducted with a qualified service provider. There are many provisions that need to be included in the trust in order for the asset protection provisions to stand strong under legal scrutiny.