NEVER set up a Cook Islands Trust before knowing THESE

NEVER set up a Cook Islands Trust before knowing THESE

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Before you jump into setting up a Cook Islands Trust, there are some crucial things you need to know.

In this video, I’m going to walk you through the key points you must consider before diving into the world of offshore asset protection.

First off, can you place U.S. real estate into a Cook Islands Trust? Technically, yes, but it’s complicated.

While personal property like cash and stocks can transfer easily, real estate involves local laws and could be subject to claims or liens from local creditors, which complicates its protection.

Missteps here can lead to adverse tax consequences if not done correctly, so it's crucial to get it right.

Another important point: do you need to be licensed to practice law in the Cook Islands to set up a trust there?

Promoting a Cook Islands Trust doesn’t necessarily require a legal license from the islands, especially if you’re only providing information or referrals from outside the jurisdiction.

However, if you’re forming trusts or offering direct legal advice on Cook Islands law, you must be appropriately licensed by local authorities.

What happens if you engage in these practices without the necessary license?

While this might lead to serious legal repercussions, it typically wouldn't void the trust if it’s established correctly through a licensed practitioner. The key is ensuring compliance through every step of the process.

Understanding the nuances of a Cook Islands Trust is crucial, whether you're an investor, property owner, or simply exploring asset protection strategies.

This powerful tool can offer significant benefits, but only if it’s set up correctly.

Don’t navigate these complex waters alone—reach out to us. We’ll ensure your asset protection is secure and your future is well-guarded.