Since March 9th 2023, concerns caused by the Silicon Valley Bank situation have dominated headlines around the world.
This raises a relevant question, “Is it time to think about a Cook Islands Offshore Asset Protection Trust?
There are several reasons why now may be a good time to consider an offshore asset protection trust.
Here are a few:
1. Economic uncertainty
With the ongoing COVID-19 pandemic, global economies have been significantly impacted. This has resulted in market volatility and increased financial instability, making it harder to predict future economic conditions. An offshore asset protection trust can provide a level of security and protection for your assets in uncertain times.
2. Increased litigation
We live in an increasingly litigious society, with more and more lawsuits being filed each year. If you are concerned about protecting your assets from potential legal action, an offshore trust can help shield your assets from potential creditors.
3. Political instability
Political instability can also impact the safety and security of your assets. In some cases, governments may seize assets or impose restrictions on the transfer of wealth. An offshore trust can provide a layer of protection against these types of risks.
4. Tax planning
It’s important to note that offshore asset protection trusts can be complex legal structures and require careful planning and implementation. It’s always a good idea to consult with a qualified legal and financial advisor before pursuing this type of strategy.
Trustees & Fiduciaries is a Cook Islands Trustee Company offering in-depth knowledge of Cook Islands Trust and Corporate services. Contact us for further information at email@example.com or call us on ph: +682 29214