Trusts

Asset protection is about resolving uncertainty.

Download the International Trusts Act

Back in 1989, Southpac took the initiative that first brought clients modern asset protection trust legislation. Effective, tested, and accepted, Cook Islands trust law is the best available and remains the defining model legislation upon which clients and advisors rely. Likewise, Nevis has implemented legislation modeled after Cook Islands law.

While there will always be a place for domestic planning, establishing a trust in the Cook Islands or Nevis provides a level of security and certainty for family and business assets not achievable under domestic law.

Our offices in New Zealand and Switzerland enable us to provide enhanced trust services. New Zealand enjoys a broad tax treaty network and sterling reputation for business, and its hybrid trust law permits New Zealand-based trusts to reference favorable Cook Islands asset protection trust law.

Likewise, Switzerland does not offer its own trust law but permits the establishment of a trust referencing Cook Islands or Nevis law. Based in one of the largest international banking centres in the world, our Swiss trustee services enable clients to enjoy enhanced access to a wide variety of financial services as well as Switzerland's tax treaty network.

Insurance is Not Enough.

In many countries, and particularly in the United States, the volume of litigation is increasing exponentially. The permitted practice of contingency fee attorney representation, the availability of punitive damages awarded by juries, and the absence of a “loser pays” rule for expenses provide strong financial incentives to sue regardless of the merits of a claim.

Insurance is becoming more expensive or unavailable in many instances, and insurance companies are scrutinizing claims more closely to minimize coverage. Many professionals and executives face the prospect of personal liability for catastrophic damage awards.

Achieve Certainty By Going Offshore.

In 1989, Southpac helped to resolve these uncertainties by introducing the world’s first modern asset protection trust legislation in the Cook Islands. Southpac’s efforts have since been replicated in several other countries, including Nevis.

The result: unparalleled protection for assets held within a trust established under the laws of Cook Islands or Nevis. Among these statutory protections are provisions limiting the ability to enforce foreign judgments against a Cook Islands or Nevis trust, a prohibition that is constitutionally not possible as between states in the U.S. Punitive damages awards are not enforceable at all in the Cook Islands. Very stringent evidentiary and procedural rules apply to any claim against a trust, and strict confidentiality laws help ensure the privacy of your arrangements.