Purpose of Using Cook Islands Trust Companies

Earning wealth is never enough for most people. You must take adequate steps to protect it as well. While you do not want to find your assets depleted in value, you are eager to hand them over to the next generation as required.

All of this can be ensured perfectly by getting in touch with one of the experienced Cook Islands Trust Companies that boasts of an excellent track record in handling the assets of their clients. 

Even when you engage a trustee company to look after your assets and expand your wealth, you must be determined to know the related facts namely: 

What are Cook Islands Trust Companies?

Well, many companies will help you set up a Cook Islands trust. Primarily a company that offers Fiduciary services to its customers, it is involved in the protection of the assets kept in the trust. You would thus need to be assured about the following before you go ahead and place your trust in the chosen company…

  • The asset protection trust must be set up as per the laws of the Cook Islands
  • Your assets must be outside US judgments and not be susceptible to any form of US litigation
  • The chosen company must comply with all International laws and must not be used for any criminal activities or illegal tax evasion 

Points to keep in mind when setting up the trust

It is advisable to connect with a US Attorney to initiate the process of setting up an offshore trust. The following steps have to be ensured before obtaining the required level of asset protection: 

  1. Selection of a trustee company– This is the most important step to ensure. Mae sure to ask and be assured about using the services of a company that is licensed to operate in the Cook Islands
  2. Background Check– While the attorney will help you to complete the trust application, the trust company will do a proper background check to learn about your source of wealth and the kind of assets that will be placed in the trust
  3. Trust Agreement– It is the attorney who will prepare the required agreement for the formation of the trust. The terms of the trust will be described properly within the agreement. You will be described as the Grantor or Settler of the trust whereas the inheritors will be termed as beneficiaries.
  4. Protector– You have the option of appointing another individual, organization, or institution as the protector of your trust. However, do make sure to check that the protector is not based in the United States of America.
  1. Asset Transfer– You will work closely with the trustee company to transfer your assets into the newly formed trust. You are welcome to place all types of assets including cash, securities, and even varied business interests.

You are sure to be elated by setting up a trust fund with the help of one of the committed Cook Islands Trust Companies known to provide a range of services related to the trust and safekeeping of assets.